I keep hearing this story about the rich paying the bulk of the taxes in the US. Im not buying it.
First tell me how many people are in that top 5%? Lets just say there is ten thousand for arguments sake. Now tell me how many are in the middle and lower brackets? Lets say 30 million.(again for arguments sake) Now we know that top 5% pay a higher percentage than the middle class .Thats a given But the Middle and lower income earners have sooo many more people and the way I see it, would have to be paying more in total taxation. Lets say the middle class pays a hundred dollars and the top 5 pays a 500 in total taxes. Which group pays more? The 30 million who pay 100 or the ten thousand who pay 500?
And Im talking about total taxation as in Fed, state ,local, real estate, fuel tax, sales tax, etc.
There is just no way the smaller group pays even close to what the large group pays in total. Its not possible.