Source: Free Association
by Sheldon Richman
“I suspect that, considering how most commentators talk about the matter, many people think the U.S. tax system favors the rich, the public’s favorite scapegoat. But according to Adam N. Michel, the Cato Institute’s director of tax policy studies, ‘We actually have one of the most progressive income taxes in the developed world.’ … The average tax rate on upper-tier earners is as high as 33.4 percent. ‘[A]s a share of adjusted gross income (AGI), the top half of income earners paid 97.1 percent of federal income taxes.’ That leaves less than 3 percent for the rest.” (04/24/26)
https://sheldonrichman.substack.com/p/tgif-who-pays-federal-taxes