Debunking the Myth: New Report Reveals Top 1% of Earners Pay Hefty Taxes, Challenging Claims of Tax Inequality

New Report Reveals Top 1% of Earners Paying 30% of Taxes in the US

Contrary to Claims, Ultra-Wealthy Paying Higher Taxes Than Middle Class, Study Finds

According to WashingTonExaminer, a new report shows that the richest people in the US are paying a lot of taxes. The top 1% of earners are paying an average of 30% of their income in taxes. This is more than double what the bottom 80% of people are paying. The top 5% of earners are even paying 46% of the country’s total taxes.

This report goes against what some Democrats, including President Joe Biden, have been saying. They claim that rich people don’t pay their fair share of taxes. But this report shows that’s not true. The report also says that rich people don’t pay taxes on money they haven’t made yet, because that money isn’t real until they sell it.

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Debunking the Myth: New Report Reveals Top 1% of Earners Pay Hefty Taxes, Challenging Claims of Tax Inequality (PHOTO: GOOGLE)

Tax Reform in the Works: White House and Senator Propose Plans to Increase Revenue from Wealthy Individuals

This report has big implications for how we talk about taxes and how fair it is. The White House wants to make rich people pay at least 25% of their income in taxes. This would only affect the richest 0.01% of people. Senator Ron Wyden has also proposed a plan to make rich people pay taxes on their wealth. This could bring in around $500 billion over the next decade.

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