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How much weath do the poorest 20% have that they pay only 1% of fed taxes? GAO report Same ? for the top 10% that pay 50% of fed taxes.?
4 Answers
- Bostonian In MOLv 76 years agoFavorite Answer
The poorest 20% control less wealth than the 6 Wal-Mart heirs do. Actually, the 6 Wal-Mart heirs control more wealth than the lowest 40% of all Americans do.
Considering the amount of wealth controlled by the top 10%, 5% and 1%, they are getting a HUGE tax break when compared to the rest of us. As a function of wealth, the middle class bears the brunt of all tax burden. The poor don't have it so they can't contribute much. The wealthy have armies of lobbyists who bludgeon Congress into doing their bidding. That leaves the rest of us to carry the load.
- Shadows SonLv 46 years ago
Poor don't have wealth or they wouldn't be poor. Capitalism depends on exploitation of the poor labor force. Taxes are a by-product legalized by other groups of wealthy people sponging off of other wealthy people.