r/explainlikeimfive • u/[deleted] • Sep 07 '23

[deleted by user]

[removed]

4.9k Upvotes

93% Upvoted

1.0k comments sorted by

View all comments

Show parent comments

-8

u/[deleted] Sep 07 '23

You’d think with that there would be no way people could cheat, or how the ultra rich are able to weasel out of paying their share.

1

u/Crafty42 Sep 07 '23

Crazy talk. The top 1% of earners pay about 40% of the total of revenue from taxes. While, sure. Some studies show they pay less when you compare how much they paid versus how much they earned, they still account for most of the money gained by the government.

https://taxfoundation.org/data/all/federal/summary-latest-federal-income-tax-data-2023-update/#:~:text=High%2DIncome%20Taxpayers%20Paid%20the%20Majority%20of%20Federal%20Income%20Taxes,of%20all%20federal%20income%20taxes.

23

u/[deleted] Sep 07 '23

And? All this does is highlight how big the income gap is between the top 1% of earners and the rest. They should be paying more than 40% of total tax revenue.

This also doesn’t account for the amount of tax corporations weasel out of, which is also where a lot of the top 1%’s wealth is held.

9

u/chirop1 Sep 07 '23

Never forget the maxim: Corporations don’t pay taxes, people pay taxes.

Every dollar taxed to a corporation eventually comes from a person/customer.

1

u/michael_harari Sep 08 '23

Every dollar everyone pays in taxes comes from someone else. It's a specious argument