SUPER RICH SEE BIG TAX DROP: The 400 richest taxpayers in the country—average income $345 million—pay about 17 percent of their income in taxes on Monday, down from 26 percent in 1992. Over the same period, the average taxpayer’s federal income tax rate has declined less than one percent. Still, 45 percent of households will pay no income tax at all.
Both of these statistics are absolutely horrifying. How can 45% of households pay NO income tax. They drive on roads, don't they? They have children in public schools. They ought to pay something - even if it is just a token amount to make it clear government is funded by someone and not just a dispenser of goods and services. And then...17%...how is it that I pay a higher tax rate than the 400 richest taxpayers in the country? Oy vey.
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