The Numbers Don’t Lie-The Wealthy Are Paying More 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/
Where Do You Find Good Ideas To Start A Business?
Where Do You Find Good Ideas To Start A Business? Just about everybody has a great idea from time to time. Some people run with those ideas and set out a course to make those ideas become a reality. Other ideas never get off the ground because they never move beyond the idea stage. Often…
Six Secrets of Effective Networking
Six Secrets of Effective Networking What’s in a network? Not your social network, but rather your business network. Networking is a well-known principle that continues to grow in the age of the Internet. Not only do people spend countless hours using their social networks, but also more and more business professionals and companies use digital…
What Skills do Entrepreneurs Needs?
What Skills do Entrepreneurs Needs? All over the world, people from all walks of life have an entrepreneurial spirit. They have a desire to create something unique and then share it with the world. It can be something to fix a problem that exists, an improvement on a current technology or a completely new idea…
How Has The Way Companies Scale Changed In Recent Years?
How Has The Way Companies Scale Changed In Recent Years? In the world of startups and venture capitalists, the goal is to get in on the ground level and then take the company to the top, with a hope of great returns on the initial investment. That process always includes scaling the startup company appropriately…