Hoyt
Hoyt's JournalThere are many ways around the GA law. Interestingly, I had a post hidden
last night because I posted what the law about water is aimed at (soliciting votes) and how easy it is to work around. Alerter thought I was posting right wing “talking points” or something.
I don’t know whether we are just defeating ourselves or want to criticize GOPers so much — which I get — that we no longer care about truth.
The GA law was mean spirited and the original versions were flat out racist, but not insurmountable with local Democratic offices, Stacey Abrams, etc. Democrats are not as stupid and helpless as people seem to think. We’ve proven that often.
Probably should have said "top 25%," but here are sources. I know some of these tend GOPer, but
it's difficult to discuss tax policy when people don't believe the facts. And, No, I do not support reducing taxes for higher incomes. I do support a robust Estate Tax system, increase in Capital Gains tax rates and corporate rates, etc.
Other sources (I know this chart won't come out right in the little white box, but you can look it up):
Income Category 2017 AGI Percent of All Income Percent of Income Taxes Paid
Top 1% Over $515,371 21.0% 38.5%
Top 5% Over $208,053 36.5% 59.1%
Top 10% Over $145,135 47.7% 70.1%
Top 25%Over $83,682 69.1% 86.1%
Top 50% Over $41,740 88.8% 96.9%
Bottom 50% Below $41,740 11.3% 3.1%
Source: Internal Revenue Service data
https://www.kiplinger.com/article/taxes/t054-c000-s001-how-you-rank-as-a-taxpayer.html
https://www.wsj.com/articles/top-20-of-americans-will-pay-87-of-income-tax-1523007001
https://taxfoundation.org/summary-of-the-latest-federal-income-tax-data-2020-update/
https://www.bloomberg.com/news/articles/2018-10-14/top-3-of-u-s-taxpayers-paid-majority-of-income-taxes-in-2016
