Saturday, July 05, 2025

"The Rich" Taxes?

A page of very useful statistics over here.

The usual rabble-rousing from Tammy Baldwin has Trump 'giving away' about $250K in tax relief to the top 1/10th of the top 1% of income-earners in the US.

Can't find the source of her stats and don't really care about the "top 1/10 of 1%" number (there are almost none of them), but we DID manage to find "top 10%" numbers which are enlightening. 

We'll run a few States here; the rest can be found at the link.

 Wisconsin

  • Minimum income needed to be considered 1%: $434,346
  • Average income of the 1%: $1,203,326
  • Average tax paid: $156,611
  • Average tax rate: 23.47%

 Texas

  • Minimum income needed to be considered 1%: $542,780
  • Average income of the 1%: $1,681,737
  • Average tax paid: $435,431
  • Average tax rate: 25.89%

 New York  (Tammy's actual home.....)

  • Minimum income needed to be considered 1%: $709,741
  • Average income of the 1%: $2,739,623
  • Average tax paid: $742,236
  • Average tax rate: 27.09%

 Illinois

  • Minimum income needed to be considered 1%: $572,933
  • Average income of the 1%: $1,842,478
  • Average tax paid: $480,696
  • Average tax rate: 26.09%

It appears (no calculators were harmed) that the Top 1% pay an average of about 25% income tax nationally.

Tammy's friends may pay a lot less, of course.  She picks her friends--and you probably aren't among them. 

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