Let's not forget, our entire adulthood Republicans have been working to put child rearing subsidies onto the 1040.

The EITC, CTC, ACTC, AOC, and CCC are all subsidies going to parents.

They literally passed something on a Tuesday, so that on a Wednesday they could complain that "less people are paying taxes".

And math morons fell for it.

" I'm paying for your lunch, I might remind of you of that free lunch."

In that case ... you're welcome.

I'm proud to help subsidize your family. Just don't pretend the equation doesn't show childless taxpayers help pay for your kids' upbringing.

" Still think the rich arent paying their fair share?"

If they're stating they pay all the taxes, and we're running massive deficits ... they're not paying enough.

" Facts aside......does this mean the wealthiest don't pay enough?"

Depends ... Are you claiming you're paying them all, or not?

But anyone who actually believes that, I'm more than willing to loan you money for 25 years at 2%.

Anyone interested? Or would you rather have upfront tax cuts where the money can be assumed to grow 8 to 9% per year?

" one can accept the financial reality yet agree it's still just"

Not even close.

Top incomes have spiked, and the marginal rates haven't kept up.

Now, add GRATs, and inheritances at a stepped-up basis.

The tax code has not kept up.

" You haven't mentioned payroll taxes"

Because I don't need to; folks like you are doing it for me.

But go ahead: explain to Boaz the actual equation. Let him know the vast majority of workers pay more in payroll taxes over their lifetimes than income taxes. Point out the chasm of value between a 25 yr 2% bond, and upfront cash tax cuts.

Or, you could stay silent and keep letting him get away with it.

Whatever floats your boat.

" I'll take $1M"

Apologies; I meant I'd TAKE your money for 2%.

Still in?

" I'm asking because to remove payroll taxes always skews the % paid by the wealthiest up significantly."

Excellent, Sherlock!

Let's have Boaz put up a thread that only counts payroll taxes!

"Payroll taxes are regressive. "

Medicare is regressive, but Social Security is actually super-regressive, since it disappears entirely over ~$200,000.

"folks who make less than the median line pay in total income taxes."

When we were kids, if a family paid $1000 in income taxes over the year via their W-2, they were scored as "paying taxes". If they got $100/month in welfare because they had three kids, that would be paid to them separately, and the family would still be scored as "paying taxes". Why? BECAUSE THEY PAID INCOME TAXES.

Now, a half-dozen child-rearing subsidies later, that SAME SCENARIO would be scored as "NOT paying (income) taxes"...which is A LIE. The subsidies are simply on the 1040 BY DESIGN, for the sole purpose of the talking point.

"But I'm not. I'm asking because to remove payroll taxes always skews the % paid by the wealthiest up significantly."

So...you ARE.

"The more taxes you roll into the calculation, the less the 1% pay as a total share of all taxes."

I've done an analysis, and if you ONLY COUNT inheritance taxes...

...the wealthy pay ALMOST ALL the taxes!!!

And speaking of the richest...tax guy joke:

D'you know what a Billionaire says to Congress for not repealing Grantor Annuity Trusts?

"GRATs."

Earned Income Tax Credit
Child Tax Credit
Additional Child Tax Credit
Child Care Credit
Paid Family Leave
American Opportunity Credit*
Lifetime Learning Credit*
529 Plans*

*Can be used by childless taxpayers as well.

I left out EITC, because for a childless taxpayer to qualify, they'd have to make ~$10,000 or less. I can count the instances I've seen in 40 years of tax prep on one hand, and I won't be needing three of those fingers.

Other than the caveats, ALL of the above are child-rearing subsidies, plastered onto the 1040. It was literally the authors' goal to move the needle on the talking point about "who pays taxes".

"politics aside.....what's the alternative to putting those credits on the 1040?"

With welfare, it was monthly payments. With the AOC, they could do direct payments to the institutions. Same thing with Child Care credits, etc.

God knows, the government can get money to folks if and when they want.

"...how else would you determine eligibility and calculate credits like that if not on the federal return?"

With AOC, for example, you could put the burden on the institutions.

"The Top 1% includes people who earn more that about $800,000 per year."

And their marginal rate is the same as someone making 100X more.