According to a report released this year by the Congressional Budget Office, only the top two income quintiles in the United States pay more in taxes than they receive in government transfers.
Not surprisingly, the lowest income quintiles receive far more in transfers than they pay in taxes:
In the lowest quintile, households pay only $400 in taxes (as of 2014, the most recent data available) while receiving more than $16,000 in various types of tax-funded transfer payments.
The end result is households in the bottom three quintiles have higher incomes after taxes and transfers than they do before taxes and transfers:
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2 comments:
Please don't include social security as a welfare payment. We've worked for our social security benefits.
Medicare and Social Security should be removed from these statistics as they are not give-away programs - people pay in to those...
Now if they want a separate statistic where they discuss payments in to Social Security and Medicare and payments from these programs as sole discussion point - that would be different ....
Different because the previous turd administration made it too easy to get disability and medicare payments out while not contributing...illegals and laziness cost a lot of money for these programs!
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