At a time when most U.S. citizens have benefited from the Trump tax cuts, the American Federation of Teachers joined up with a motley assemblage of leftwing organizations over the summer on what was billed as the “Tax the Rich Bus Tour.” The road show, which lasted 35 days and ended just last week, was replete with the usual tropes – including demands that “the rich and corporations pay their fair share” and other socialist-inspired class warfare twaddle.
What the unionistas don’t get or refuse to acknowledge is that the rich already pay their “fair share” and then some. According to the Tax Foundation, while the top 1 percent of taxpayers earned 19.7 percent of the income in 2016, they paid 37.3 percent of federal income taxes. Also, the top 1 percent of taxpayers paid a 26.9 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.7 percent).
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