Reminder: Top 20% of households pay 88% of income tax

Reminder: Top 20% of households pay 88% of income tax

[Ed. – What, after all, is a “fair share”? Especially considering nearly 50% pay no net federal income tax.]

Ocasio-Cortez fails to mention that the tax code is already steeply progressive.

According to the Congressional Budget Office:

-The top one percent of households pay 39.4 percent of federal income taxes and 26.2 percent of total federal taxes.

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– The top 20 percent of households pay 88.1 percent of federal income taxes and 69.5 percent of total federal taxes.

– The top one percent of households pay an average income tax rate of 24 percent while the middle quintile pays an average income tax rate of 3 percent.

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