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→Budget
:{{See also|Modern Monetary Theory|New spending}}
:{{See also|Modern Monetary Theory|New spending}}
[[File:DS-Biden-spending-agenda-charts-04.jpg|right|300px|thumb|]]
[[File:DS-Biden-spending-agenda-charts-04.jpg|right|300px|thumb|]]
As of 2021, the top 1% pays 40% of all the income taxes. The top 1% earned 21% of the income but paid 40% of the income tax. The entire bottom half of taxpayers who earned 11.6% of the income paid a 2.9% of all income tax.
Six in ten households received more in direct government benefits than they pay in federal taxes. Over 53 million low and middle income individuals pay no income taxes because of refundable tax credit, which are effectively a form of [[federal spending]] through the tax code.
According to Congressional Budget Office data for 2017 the lowest quintile of the income groups actually had an income tax rate of negative 10.9%. The second lowest quintile had a negative 1% income tax. That means they received more benefits from the government than they paid in taxes.
Analysts predict that Biden’s American Families Plan would add 21 million Americans to the [[Nanny State|welfare rolls]]. Families earning six figures would be eligible for generous handouts. Most of Biden’s spending would benefit middle-income and upper-income households and not "poor kids".<ref>https://www.dailywire.com/news/american-families-plan-would-put-21-million-more-people-on-welfare-analysts</ref><ref>https://youtu.be/7qYckI0YV-0</ref>
Analysts predict that Biden’s American Families Plan would add 21 million Americans to the [[Nanny State|welfare rolls]]. Families earning six figures would be eligible for generous handouts. Most of Biden’s spending would benefit middle-income and upper-income households and not "poor kids".<ref>https://www.dailywire.com/news/american-families-plan-would-put-21-million-more-people-on-welfare-analysts</ref><ref>https://youtu.be/7qYckI0YV-0</ref>