aka: The Working-Class
And they pay a greater percentage of their income than the top 400 wealthiest American families.
Now, we know the reason American workers are quitting their jobs.
reference:
"The Triumph of Injustice: How the Rich Dodge Taxes and How to Make Them Pay" by Emmanuel Saez & Gabriel Zucman
Don't worry they can learn to code and make a billion dollar app.
shareA.k.A the wealthy middle class.
You do realize it gets much lower than $18,500 / year for many people.
There is no taxing the ultrarich, to keep them here we placate them with tax shelters and then trying to tax them after we get them here causes them to throw a hissy fit (see elon Musk) and move to some other place that gives better incentives (fully removing the tax benefit)
The authors mention how corporate profits are shifted to other tax haven countries in order to avoid corporate taxes. Meanwhile, the 2017 tax cut slashed the corporate tax rate from 35% to 21% and revenue from it fell 50% from 2017 to 2018.
The U.S. would have to work with the EU, Canada and other countries which have the same tax avoidance problem. It could be done, but legislators are bribed by the rich not to change anything.
$18,500, LOL?! Where'd did you get this load of crap?
"Median household income was $67,521 in 2020, a decrease of 2.9 percent from the 2019 median of $69,560 (Figure 1 and Table A-1)."
https://www.census.gov/library/publications/2021/demo/p60-273.html
"The Bureau of Labor Statistics reported a median personal income of $865 weekly for all full-time workers in 2017. The U.S. Census Bureau lists the annual real median personal income at $35,977 in 2019 with a base year of 2019."
https://en.wikipedia.org/wiki/Personal_income_in_the_United_States
Quitting your job pays $0.
You provide a link which you fail to understand.
Median and average are not the same thing. Nor household and individual.
If you scroll down to the gray "Income Distribution" table, you'll see that 42.87% of the population earns less than $25k. Over 14 million earn less than $2,500! Over 10 million earn from $7500-$9999, etc. You can add persons earning $25000-$29999 to get the bottom 50%. When you average it out, you're going to get around $18,500 income because the majority of people are in the lower income range.
Anyway, you're missing my two important points. So many Americans are earning diddly-squat, but they're paying a greater percentage in taxes than someone earning billions. If you believe that sounds fair, I would be curious to hear your reasoning.
By me 18,000 is property tax.