Death and taxes two things none of us are supposed to escape. None of us enjoy paying taxes but we do pay them – at least most of us. If none of us paid taxes how would we maintain our infrastructure, keep our parks clean and maintained, protect the country to name just a few…
It was reported that in 2016 and 2017 the president paid $750 in federal taxes. What do most people pay? The chart below breaks out the tax paying population into seven Income Groups, the Income Range and Average Income as well as the Federal Tax rates pre and post TCJA. * The president paid less than the lowest income group below.
The Source Institute on Taxation and Economic Policy (ITEP).
*TCJA is the 2017 Tax Cuts & Jobs Act