Five Tax Fallacies Invented by the 1%

by Paul Buchheit

 

We hear these claims often, even though they're entirely false. An analysis of the facts should make that clear.

1. The Rich Pay Almost All the Taxes

That's simply not true. The percentage of total taxes paid by the very rich (the top 1%) is approximately the same as the percentage paid by middle class Americans (the 4th quintile, average income $68,700). Here are the details: