I started from this page:
https://en.wikipedia.org/wiki/Income_inequality_in_the_United_States#Income_at_a_glance
I broke down income ranes into bottom, Lower-middle, middle, and upper-middle 20 percent, plus a range for 80-95, 95-99, and 99+. I made the assumpitons that the income graph was roughly linear within each range. I had the top range top out at $10,000,000.
The bottom 20% earns 1.65% of US income.
The lower-middle 20% earns 4.76% of US income.
The middle 20% earns 8.01% of US income.
The upper-middle 20% earns 13.08% of US income.
The 80-95 range earns 17.28% of US income.
The 95-99 range earns 9.20% of US income.
The 99+ range earns 46.03% of US income.
I re-ran the numbers with the top range topping out at 5,000,000 (I don't thihnk you could make a good argument for it being lower).
The bottom 20% earns 2.12% of US income.
The lower-middle 20% earns 6.12% of US income.
The middle 20% earns 10.30% of US income.
The upper-middle 20% earns 16.82% of US income.
The 80-95 range earns 22.22% of US income.
The 95-99 range earns 11.83% of US income.
The 99+ range earns 30.60% of US income.
So, even by the most generous estimate, the bottom 47% is earning 13% of US income, spread out over half the households. Whatever other ways there my be to improve the deficit, it won't come by taxing these people.
https://en.wikipedia.org/wiki/Income_inequality_in_the_United_States#Income_at_a_glance
I broke down income ranes into bottom, Lower-middle, middle, and upper-middle 20 percent, plus a range for 80-95, 95-99, and 99+. I made the assumpitons that the income graph was roughly linear within each range. I had the top range top out at $10,000,000.
The bottom 20% earns 1.65% of US income.
The lower-middle 20% earns 4.76% of US income.
The middle 20% earns 8.01% of US income.
The upper-middle 20% earns 13.08% of US income.
The 80-95 range earns 17.28% of US income.
The 95-99 range earns 9.20% of US income.
The 99+ range earns 46.03% of US income.
I re-ran the numbers with the top range topping out at 5,000,000 (I don't thihnk you could make a good argument for it being lower).
The bottom 20% earns 2.12% of US income.
The lower-middle 20% earns 6.12% of US income.
The middle 20% earns 10.30% of US income.
The upper-middle 20% earns 16.82% of US income.
The 80-95 range earns 22.22% of US income.
The 95-99 range earns 11.83% of US income.
The 99+ range earns 30.60% of US income.
So, even by the most generous estimate, the bottom 47% is earning 13% of US income, spread out over half the households. Whatever other ways there my be to improve the deficit, it won't come by taxing these people.