Nine Things the Rich Don’t Want You to Know About Taxes — David Cay Johnston
- Poor Americans do pay taxes.
- The wealthiest Americans don’t carry the burden.
- In fact, the wealthy are paying less taxes.
- Many of the very richest pay no current income taxes at all.
- And (surprise!) since Reagan, only the wealthy have gained significant income.
- When it comes to corporations, the story is much the same — less taxes.
- Some corporate tax breaks destroy jobs.
- Republicans like taxes too.
- Other countries do it better.
Top Ten Tax Charts — Center on Budget and Priority Policies
- The United States is a low-tax country.
- Federal income taxes on average families are historically low.
- Corporate tax revenues are historically low.
- Effective tax rates on wealthiest people have fallen dramatically.
- Bush tax cuts heavily tilted to the top.
- Rise in debt could be halted over next decade by letting Bush tax cuts expire.
- Tax expenditures are substantial.
- Income gains at the top dwarfed those of low- and middle-income households.
- Top 1 percent’s share of total after-tax income has more than doubled over the past thirty years.
- Most of budget goes toward defense, Social Security, and major health programs.