On the other hand, almost a majority of people already pay no federal income tax anyways. Mitt Romney mentioned a number of 47% during his presidential campaign and that number was mostly true. https://www.politifact.com/factchecks/2012/sep/18/mitt-romne...
People love to talk about the marginal tax rates but not the average tax rates. And I think that’s right because the conversation should be focused on the wealthiest people.
> On the other hand, almost a majority of people already pay no federal income tax anyways.
That's an irrelevant diversion though, because the measure that matters when discussing the fairness of taxes is how much people are left with at the end after paying whatever taxes they pay, including sales tax, income tax, and any other kind of tax. And for those particular people you're talking about the answer is very little, next to none, and for the people for whom a wealth tax would even apply the answer is unimaginable amounts.
i hate when people bring it up. everybody that works pays payroll taxes which is around 25% when you count both sides.
It’s 15.3% counting both sides, and capped. And it’s the only “tax” that is paid back, at progressive rates, because it’s a retirement annuity not an income tax.
It’s an income tax wearing the trenchcoat of a retirement annuity- it’s not one for any practical purpose.
Federal payroll taxes in the US are 15.3% (7.65% for each side).
Social security and Medicare are also payroll "taxes" in that they're not optional and are automatically deducted.
This is called insurance, not tax.