Who sustains the Federal Government?
2.14 trillion was collected in income taxes in 2022. Of that, the bottom 50% of all IRS returns, which is about 76 million people, paid a combined $65B.
That's pocket change. IMO, 76 million people shouldn't even file or worry about IRS stuff. Let's stop wasting their time.
The top 50% paid 2.07T dollars:
Top 1% (1.5m ppl, income >$660K) -> $854.5B
5% to 1% (5m ppl, income >$260K) -> $448.6B
10% to 5% (8m ppl, income >$175K) -> $235.0B
25% to 10% (23m ppl, income >$100K) -> $320.5B
50% to 25% (38m ppl income >$50K) -> $213.6B
With today's DOGE results, the 50% to 25% shouldn't need to file anymore.
With a few more DOGE results, the 25% to 10% might not need to file.
We only really need the Top 10% of filers (15 million people) to sustain the federal government with 1.5T dollars paid.
This is realistic. Let's stop wasting everybody else's time.