federal income tax
Coverage of federal income tax in the Nexus archive.
- States ranked by how much of their federal income tax is paid by the top 1%
Florida ranked second-highest in a SmartAsset study measuring the share of federal income tax paid by the top 1% of earners. The study found the top 1% nationally pay 37% of federal income taxes despite earning 19% of incomes, with tax proposals in New York and California aiming to increase taxes on wealthy residents.
- DTE asks for $474M rate hike while not paying federal income tax for over a decade
DTE is requesting a $474M rate hike despite being a legal monopoly that has not paid federal income tax for over a decade and has generated billions in profit.
- Billionaire Bezos suggests no taxes for half the nation. Is that crazy or overdue?
Billionaire Jeff Bezos proposed that the bottom 50% of American earners pay zero federal income tax, arguing they already contribute only 3% of total federal tax revenue. The suggestion highlights middle-class financial strain and sparks debate over tax fairness, government spending, and national debt implications.