No, in America the more money you make, the less your taxes become.
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krisevol@lemmus.org 8 hours agoDon’t they pay like the majority of taxes in America?
Comment on How to turn the phrase "The 1%" into a grawlixed slur?
krisevol@lemmus.org 8 hours agoDon’t they pay like the majority of taxes in America?
No, in America the more money you make, the less your taxes become.
Rivalarrival@lemmy.today 4 hours 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 hours 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.