The relevant metric is “proportionate” not “majority”. The working poor pay a much higher proportion of their earnings in taxes than the ultra rich.
For example, our social security system is funded by taxes on the first $184,500 of personal income. Every dollar you earn above that is exempted from social security tax. That’s a 12.4% regressive flat tax. That tax is not assessed against business income, only personal income.
They still pay a high percentage of their income in sales tax, and they ultimately pay their landlord’s property taxes. The middle class might see the highest taxes, but the working poor still pay proportionally more than the ultra-rich.
krisevol@lemmus.org 4 months ago
Don’t they pay like the majority of taxes in America?
Rivalarrival@lemmy.today 4 months ago
The relevant metric is “proportionate” not “majority”. The working poor pay a much higher proportion of their earnings in taxes than the ultra rich.
For example, our social security system is funded by taxes on the first $184,500 of personal income. Every dollar you earn above that is exempted from social security tax. That’s a 12.4% regressive flat tax. That tax is not assessed against business income, only personal income.
krisevol@lemmus.org 4 months ago
The working poor usually don’t pay federal taxes, and usually pay a -% if you include rebates or credits.
The middle class on the other hand gets screwed in taxes.
Rivalarrival@lemmy.today 4 months ago
They still pay a high percentage of their income in sales tax, and they ultimately pay their landlord’s property taxes. The middle class might see the highest taxes, but the working poor still pay proportionally more than the ultra-rich.
Zoot@reddthat.com 4 months ago
No, in America the more money you make, the less your taxes become.
SaveTheTuaHawk@lemmy.ca 4 months ago
to a point, then you pay $0 and after that, you actually get taxpayer money in goverment contracts.
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