In promoting his plan to overhaul of the nation’s tax system, President Donald Trump claimed “the rich will not be gaining at all with this plan.” But the tax proposal his administration outlined in April would heavily benefit high-income taxpayers, and Trump hasn’t revealed any changes to it.
Mitt Romney was wrong when he said the 47 percent of Americans who pay no federal income taxes are “dependent on the government.” Most of them are working people who simply do not earn very much money.
Romney also assumed that all of those in the 47 percent who pay no federal income tax vote Democratic. But polling data suggest that’s just not true. President Obama is faring better than Romney among the lowest earners —
Q: What’s the percentage breakdown of the government’s tax revenue stream?
A: Nearly half of federal revenue came from income taxes on individuals last year, and another one-third came from social insurance taxes, mainly for Social Security.