There are varying opinions and studies on which segment of the US population bears the largest burden for paying federal income taxes. Let’s identify the major groups of taxpayers and discuss the percent of total income taxes each pays.
Also, indicate whether the tax for each group is regressive, progressive, or proportional. Is the federal income tax system equitable and efficient? Why? Why not? Finally, is the situation the same today as in the past?How has the current administration’s tax policies changed the situation? What is your overall conclusion?