Quotation of the Day…

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… is from page 28 of economists Phil Gramm’s, Robert Ekelund’s, and John Early’s excellent, data-rich 2022 book, The Myth of American Inequality: How Government Biases Policy Debate (footnote deleted):

In total, the top quintile [of American households in 2017] paid some 61 percent of all federal, state, and local taxes as compared to 20 percent paid by the fourth quintile, 11 percent paid by the middle quintile, 5 percent paid by the second quintile, and 2 percent paid by the bottom quintile.