Here at the lavish Biteme World Headquarters and Auto Showroom, we were much heartened by economist
The 1 percent pays 80 percent of all taxes. Fifty percent of the population of the U.S. pays no taxes. The 1 percent provides all the jobs for everybody else. If the 1 percent didn’t exist, there would be chaos and the American economy would drop dead.
Imagine how disappointed we were to hear that Simmons was wrong. It turns out that the 1 percent pays much less than 80% of all taxes. And much less than 50% of the population of the U.S. pays no taxes.
Unfortunately, Simmons won’t be getting that Nobel Prize in economics this year, but he did rate 4 Pinocchios from the Fact Checker.
See also Cecil Adams’ “Do the rich pay very little tax? Wouldn’t a flat tax be fairer?”