Who’s paying what?
The top 1/5th of taxpayers by income are estimated to pay 84% of total income tax! These are families with incomes of $134,300 and above.
The bottom 2/5th of taxpayers (that’s a misnomer!) pay NO income taxes!
Those top 1% taxpayers, that are so famous, pay 46% of total income tax (income above $615,000).
With a national debt of $18 trillion and growing which way do you believe taxes are headed – higher or lower?
To explore strategies to protect you from the uncertainty of future income taxes please contact me for a no charge initial consultation.
The Wall Street Journal reported this in the weekend edition April 11 – 12, 2015, by Laura Saunders
“The data come from estimates by the nonpartisan Tax Policy Center, a Washington-based research group, as Internal Revenue Service data for 2014 won’t be available for at least two years.
Another important difference: The income cited on the tables includes un-taxed amounts for employer-provided health coverage, tax-exempt interest and retirement-plan contributions and growth, among other things. This can be significant.”
View their web site: www.taxpolicycenter.org