Socialists Are Wrong, The Wealthy Pay More Than Fair Share!

PHOTO: AP / Charlie Neibergall / Mark Lennihan

Article by Bryan Howard

January 10, 2019

Americans for Tax Reform Wrote a pice that established radical Socialists like Bernie Sanders and Alexandria Ocasio-Cortez are dead wrong when they say the top one percent and the wealthy don’t pay their fair share. Using stats from the Congressional Budget Office (CBO) they establish how the one percent is currently paying nearly 40% of all tax revenue for the Government. This proves not only they pay their fair share, but pay far more than their fair share.

Below is a portion of what Americans for Tax reform wrote,

According to the Congressional Budget Office:

-The top one percent of households pay 39.4 percent of federal income taxes and 26.2 percent of total federal taxes.

– The top 20 percent of households pay 88.1 percent of federal income taxes and 69.5 percent of total federal taxes.

– The top one percent of households pay an average income tax rate of 24 percent while the middle quintile pays an average income tax rate of 3 percent.

– The top one percent of households pay an average total tax rate of 33.3 percent while the middle quintile pays an average total tax rate of over 14 percent.

– The top 20 percent of households pay an average total tax rate of 26.7 percent while the middle quintile pays an average total tax rate of 14 percent.

The data is shown below:

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