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Who pays the income tax? -- The top 1% of incomes pay 46% of the total -- The top 10% pay 76% of the total -- The top 25% pay 89% of the total -- The bottom 50% pay 2% of the total We have a very progressive income tax system. I retired from Wall Street 6 years ago. I could easily have worked for 5-10 years more. One of the main considerations in my retirement decision was income taxes. I was paying 48.75% of my earnings in taxes: - Federal 39.6% - HI State 11% - Medicare 1.9% - SS 6.2% on wages up to $76,200 - Medicare 1.45% I looked at our tax returns and added up the millions we paid in taxes and thought it is time to generate wealth in non-taxable forms. - - - - - - - - The problem I have with this post is, they never talk about all the money the rich get back from all their tax ride offs. So the real amount they pay in is lower than what they say they pay in. Think about all the business buildings that have set empty for years instead of being fixed up, sold, or used for things like the homeless, etc.