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'; return $shares.$content.$newsletter; } ?> Five Tax Fallacies Invented by the 1%

Five Tax Fallacies Invented by the 1%

This entry was posted by RealNews.Today on May 8, 2012 at 17:06

Five Tax Fallacies Invented by the 1%

1. The Rich Pay Almost All the Taxes

That’s simply not true. The percentage of total taxes paid by the very rich (the top 1%) is approximately the same as the percentage paid by middle class Americans (the 4th quintile, average income $68,700). Here are the details:

Internal Revenue Service figures show that the very rich paid 23% of their incomes in federal in

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