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Wealthy Pay 63% Less in Federal Taxes Today than in 1980
‘America Is Mortgaging its Future to Make the Wealthy Wealthier’ 930 words By David Demers As President Donald Trump prepares to lower taxes on the wealthy again, a new study shows that the wealthiest 10 percent of Americans are paying an average of 63 percent less in federal income taxes today than they did in 1980. This explains in large part why America’s national debt is soaring ($36+ trillion as of this writing). In fact, America is mortgaging its future to make the wealthy wealthier. [1] These are the key findings and conclusions from a comparative analysis of tax rates for married taxpayers filing in 1980 and 2023. In 1980, taxpayers in the wealthiest 10 percentile reported a total income of income of ... CLICK PDF ICON UPPER LEFT TO READ MORE NEXT COMMENTARY: What Do Economists and Ostriches Have in Common? | ||