Most People Don’t Pay Much in Federal Income Tax

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When Paul Ryan says he wants “tax reform,” what he means is that he wants to cut taxes on the rich. That means top marginal rates, capital gains rates, dividend rates, and estate tax rates. Primarily this is because Republicans have few economic goals left on earth except cutting income taxes on corporations and the rich. Here’s one reason why:

Basically, there’s no income tax to cut anymore until you get to household incomes in the six figures. Even at $200,000, the federal income tax rate is pretty modest. So if you’re going to cut income taxes, it’s pretty hard to cut them very much for anyone but the rich.

Of course, households with lower incomes still pay a lot in payroll taxes, state sales taxes, and other flat or regressive taxes. The federal income tax is the main bulwark that makes the overall tax system progressive, so it’s easy to see why Republicans hate it.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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