But Mr. Nerdman, that can't be true.

[PATAX]

Mr Nerdman: The top 5% pay approximately 63% of all federal individual income taxes. Liberal Client: Are you sure? Mr Nerdman: Did I stutter? Client: But that can't be true. Mr Nerdman: But it is true. Client: But Warren Buffett said his secretary is in a higher tax bracket than him. Mr Nerdman: I'm just reading the facts to you. Client: You must be getting that information from some political source. Mr Nerdman: Actually I'm getting it from a very respectable tax reference publication, hardly political. Client:.... crickets..... Mr Nerdman: Don't get me wrong, the more one makes, then the more one should pay. But don't believe that there is some magical tax loophole or mythical tax deduction out there that high income people utilize to pay little or no taxes. Client: Thank you, do I owe you anything? Mr Nerdman: You're welcome, just ask your wife to make some steak and potatoes, and send it over right away, Heidi is hungry.😉🐕☝

[BobKamman]

By The Numbers

$0
The amount of federal income tax Trump paid in 2020.

4.1%
The highest effective tax rate Trump paid on his income during the period 2015-2020, a bill of $999,466 in 2018.

[IRonMaN]

There is an old saying that goes something like "numbers never lie but liars use numbers".  There is a new saying that I just started today "getting political here, never ends well".  So with that said, I am going to mosey on to find something less political.  Maybe I'll go find a study that is less problematic, like what percentage of the top 5% like Spam.

[Hillenburg · Accepted solution]

Well, If Trump paid $1.00 less than required by law , I'm sure we will have another trial,

[PATAX]

@Hillenburg The source for the statistic that I referenced above is the tax year 2023 the tax book federal deluxe edition plus. The statistic is on the back cover along with other statistics.

[BobKamman]

Always the victim, isn't he?  Yet he covets headlines in the NYT, which today has this analysis:

In the 1960s, the 400 richest Americans paid more than half of their income in taxes.
Higher tax rates for the wealthy kept inequality in check and helped fund the creation of social safety nets like Medicare, Medicaid and food stamps.

Today, the superrich control a greater share of America’s wealth than during the Gilded Age of Carnegies and Rockefellers.
That's partly because taxes on the wealthy have cratered. In 2018, America's top billionaires paid just 23 percent of their income in taxes.

For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans.

 https://www.nytimes.com/interactive/2024/05/03/opinion/global-billionaires-tax.html