CHART: Only top 20% US household are 'net payers,' while the bottom 60% are 'net recipients'http://t.co/GSgBlVhRTJ pic.twitter.com/scUVGQ31sL
— Mark J. Perry (@Mark_J_Perry) November 16, 2014
The 47% is bigger than you think
16 Nov 2014 2 Comments
in politics - USA, public economics, Rawls and Nozick Tags: 47%, tax incidence, who pays taxes
Nov 16, 2014 @ 18:58:09
I doubt a NZ version would differ much. We know the half of WFF recipients effectively pay no tax. Add in the growing body of superannuitants with no investments, and low wage workers receiving accommodation supplement or income related rents…I don’t say it out of resentment. Just frustration that the wealth transfers act as subsidies to landlords and employers and interfere with the free market.
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Nov 16, 2014 @ 20:17:27
Michael Woodhouse: Which groups now pay most of the tax collected by the Government?
Hon BILL ENGLISH: Our tax and transfer system is highly redistributive, and the number of people paying income tax is surprisingly small. The lowest-income 43 percent of households currently receive more in income support than they pay in income tax.
The 1.3 million households with incomes under $110,000 a year collectively pay no net tax—that is, their total income support payments match their combined income tax.
The top 10 percent of households contribute over 70 percent of income tax, net of transfers—over 70 percent of income tax, net of transfers. This system is highly redistributive and we believe it is fair.
HT: http://www.kiwiblog.co.nz/2011/07/net_taxpayers.html
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