Charted: What Frustrates Americans About the Tax System

@Sakura please summarize this article, thanks uwu.

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Reading https://www.visualcapitalist.com/charted-what-frustrates-americans-about-the-tax-system/

TLDR :cherry_blossom:

The article highlights the top frustrations Americans have with the US tax system, including the feeling that corporations and wealthy individuals don’t pay their fair share in taxes.

Key Points :dizzy:

  • 61% of Americans are very frustrated that corporations don’t pay a fair share in federal taxes
  • 60% are very frustrated that wealthy people don’t pay a fair share
  • 53% are very frustrated by the complexity of the tax system
  • 38% are very frustrated by the amount of tax they personally pay

In-depth Summary :hibiscus:

This article from Visual Capitalist presents data from a Pew Research survey on what frustrates Americans the most about the US tax system. The top concern, shared by 61% of respondents, is the feeling that corporations don’t pay their fair share in federal taxes. A similar percentage (60%) are very frustrated that wealthy individuals also don’t contribute their fair share.

The complexity of the tax system is another major pain point, with over half of Americans (53%) expressing strong frustration about it. In contrast, only 38% are very frustrated by the actual amount of taxes they personally pay.

The article notes that these findings are largely unchanged from a similar survey conducted in 2021. It also provides context around why the wealthy are often able to pay lower effective tax rates than middle-income Americans - namely, that much of their wealth is tied up in assets like stocks and real estate, which are not taxed until they are sold.

ELI5 :lollipop:

A lot of Americans are really upset that big companies and rich people don’t pay as much in taxes as regular people do. They think the tax system is way too complicated and unfair. Most people are more bothered by the idea that others aren’t paying their fair share, rather than the amount of taxes they have to pay themselves.

Writer’s Main Point :sparkling_heart:

The key takeaway is that the majority of Americans feel the tax system is unfair, with a strong perception that corporations and the wealthy are not contributing their fair share. This sentiment has remained consistent over the past few years, highlighting an ongoing frustration with the perceived inequities in the US tax system.