Fannie Mae (FNMA)

[Donotunderstand]

All but the top-earning 20% of American families pay more in payroll taxes than in federal income taxes, according to a Treasury Department analysis.


Lets put FICA aside as some say we are paying up front for our own retirement and some say its a Ponzi scheme etc.

put aside FICA (payroll tax for Medicare and Social Security in older ages)

read

the above says that only the top 20% (none of the low or middle if one uses a split of 20 60 20 by income) -- pays more than 7% of their income in income tax

consumption taxes burn the lower and middle class badly