The Numbers Don’t Lie-The Wealthy Are Paying More Taxes

numbers-dont-lie,-wealthy-paying-more-in-taxes

More, more, more! So many people demand that the wealthy pay more taxes. ‘They must pay their fair share,” goes the battle cry. The question is what really constitutes a fair share? Truth be told, many of the nations wealthy pay a smaller percentage of taxes than most. However, that doesn’t mean they aren’t paying their fair share. Want proof? Then look no further than the number the IRS reported: in 2014, those who made more than $100,000 paid a combined 79.5 percent of all federal income taxes.

A closer look at the numbers from the IRS shows that more than 148 million Americans filed a tax return in 2014. Of those, 23.7 million showed an AGI of a $100,000 or more. That equals 16 percent of all tax returns. Almost all of those returns reported tax due for a combined total of $1.079 trillion in taxes, which amounts to 79.5 percent of all federal income taxes paid in 2014.

Yes, the top 1 percent, or 16 percent in this case, make a lot more money than most people, but even though they have found many ways to lower their effective tax rate, they still pay nearly 80 percent of all the federal income taxes collected by the IRS. Is that a fair share? That’s a question for each person to answer.

http://www.forbes.com/sites/kellyphillipserb/2016/05/13/americans-who-make-more-than-100000-pay-80-of-federal-income-taxes/#50015fe02f7a/

Posted in

Nuraxi Holdings: Pioneering the Future of Health and Longevity with Sparrow Rogers, Serial Entrepreneur

Introducing Nuraxi Holdings Nuraxi Holdings, a trailblazing venture operating in stealth mode, is at the forefront of unraveling the enigma of longevity. Our journey takes us through the intricate landscape of biomedical research, advanced AI models, and an unprecedented dataset that disrupts the norm. With an unwavering commitment, we strive to decode the mysteries of…

Unlocking Value: When ROI Transcends Monetary Gains with Mary D’Souza – Chief Investment Officer at Misha Investments

Unlocking Value: When ROI Transcends Monetary Gains with Mary D’Souza – Chief Investment Officer at Misha Investments

Introduction In this interview, Alan Olsen, CPA, MBA discusses with Mary D’Souza unlocking value: when ROI transcends monetary gains.  Mary is the Chief Investment Officer (CIO) at Misha Investments. Transcript: Alan Olsen Hi, this is Alan Olsen and welcome to American Dreams. My guest today is Mary D’Souza. Mary, welcome to the show.   Mary…

Rescuing Lives: Battling Sex Trafficking and Empowering Communities with Daphna Ziman - Founder of Children Uniting Nations

Rescuing Lives: Battling Sex Trafficking and Empowering Communities with Daphna Ziman – Founder of Children Uniting Nations

Introduction In this interview, Alan Olsen will discuss with Daphna Ziman about rescuing lives: battling sex trafficking and empowering communities.  Daphna is the founder of Children Uniting Nations. Transcript: Alan Olsen Hi, this is Alan Olsen and welcome to American Dreams. My guest today is Daphna Ziman. Daphna welcome to today’s show. Daphna Ziman Oh,…

Why Good Companies Face Preventable Lawsuits

Why Good Companies Face Preventable Lawsuits

Introduction In this interview, Alan Olsen, CPA, MBA discusses with Alex Gertsburg why good companies can face preventable lawsuits.  Alex is the Managing Partner of Gertsburg Licata. Transcript: Alan Olsen Welcome to Alan Olsen’s American Dreams Show. My guest today is Alex Gertsburg, Alex, welcome to today’s show. Alex Gertsburg Thanks, Alan. Really, really great…