The Rich Pay More

April 23, 2018

The Wall St. Journal reports that the federal tax code has become more progressive.  “For 2018, households in the top 20% will have an income of about $150,000 or more and 52% of total income, about the same as in 2017. But they will pay about 87% of income taxes, up from about 84% last year.”

“Roughly one million households in the top 1% will pay 43% of income tax, up from 38% in 2017. These filers earn about $730,000.”

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