The Top 1,409 Individual Taxpayers Pay More Than The Bottom 70% Combined

RUSH: Now, those of you who listen to this program, this is not gonna be news to you. But as you well know, the Democrats and the media have a popular refrain. No matter how the income tax burden is spread around among taxpaying members of the public, there is an often-heard refrain, “The rich are not paying their fair share and therefore we need to raise their rates!

“We need to increase their tax percentages, their rates and so forth, and make it fair,” and it has gotten to the point now where fairness is so far out the window… It is actually true that the wealthiest 1,049 taxpayers, individuals pay more in actual tax money, revenue… Forget percentages. They pay more in taxes than the bottom 70% of … the population [that] pays income taxes.

But of those who do, the top 1,049 taxpayers pay more money than the bottom 70% of taxpayers combined. “The top 3% of U.S. taxpayers paid [practically 90%] of all taxes in 2016. Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended September 30th, the individual income tax is expected to bring in $1.7 trillion. That is about half of all federal revenues,” and that’s according to the Congressional Budget Office.

“If past statistics can offer any guidance, in 2016, $1.44 trillion income taxes were paid by 140.9 million taxpayers reporting a total of $10.2 trillion in adjusted gross income… Bloomberg looked into the 2016 individual returns data in detail for some additional insights… The top 1% paid a greater share of individual income taxes (37.3%) than the bottom 90% combined (30.5%).” The top 1% comprise 37% of taxpayers. So the top 1%…

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