47 percent is a reference to 2012 campaign. A bad joke.
Social Security and Medicare taxes are deducted from income but counted separately
Edit: 47 percent refers to federal income tax only
Brookings presents zero relevant statistics ๐Ÿ“Š or figures or quantitative evidence to debunk the myth of 47 percent
If your income is below 40,000 bucks you will not pay any income tax. Maybe itโ€™s 35,000. I forget the threshold.
I have heard other economists echo 47 percent or almost half.
The solution is a flat tax of 19 percent or the highest bracket should be 25 percent
Eliminate payroll taxes. Privatization of social security and Medicare. Eliminate Medicaid which is a handout for parasites
this territory is moderated