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After all, when the top 20% are taking over 80% of the money The current numbers for the US are actually something like: 10% of the population controls 85

After all, when the top 20% are taking over 80% of the money The current numbers for the US are actually something like: 10% of the population controls 85% of the wealth. 1% of the population controls 40% of the wealth. Which, if anything, strengthens your point.

jbarham 17y ago
Source please. And define "control". Investment bankers might "control" my retirement fund but they certainly don't own it. The difference is rather important.
cwan 17y ago
In the US: "In 2000, the top 25 percent of all taxpaying filers paid a whopping 83.6 percent of all income taxes. By 2005, they paid 85.6 percent of all taxes. So in spite of tax rate cuts for the well-off, the share of taxes paid by the well-off has risen." http://www.dallasnews.com/sharedcontent/dws/bus/columnists/sburns/stories/DN-burns_04bus.ART.State.Edition1.4603045.html http://www.dallasnews.com/sharedcontent/dws/bus/columnists/s... - The irony is that tax cuts for the rich under the Bush Administration made taxation more progressive as it grew the overall tax base. More here: http://taxprof.typepad.com/taxprof_blog/2007/10/top-1-pay-more-.html http://taxprof.typepad.com/taxprof_blog/2007/10/top-1-pay-mo... "The new data shows that the top-earning 25% of taxpayers (AGI over $62,068) earned 67.5% of the nation's income, but they paid more than four out of every five dollars collected by the federal income tax (86%). The top 1% of taxpayers (AGI over $364,657) earned approximately 21.2% of the nation's income (as defined by AGI), yet paid 39.4% of all federal income taxes. That means the top 1% of tax returns paid about the same amount of federal individual income taxes as the bottom 95% of tax returns."
teuobk 17y ago
Nice charts showing this data (albeit a few years out of date): http://perotcharts.com/category/taxation-charts/page/7/ http://perotcharts.com/category/taxation-charts/page/7/

jbarham 17y ago

Source please. And define "control". Investment bankers might "control" my retirement fund but they certainly don't own it. The difference is rather important.

cwan 17y ago

In the US: "In 2000, the top 25 percent of all taxpaying filers paid a whopping 83.6 percent of all income taxes. By 2005, they paid 85.6 percent of all taxes. So in spite of tax rate cuts for the well-off, the share of taxes paid by the well-off has risen." http://www.dallasnews.com/sharedcontent/dws/bus/columnists/sburns/stories/DN-burns_04bus.ART.State.Edition1.4603045.html http://www.dallasnews.com/sharedcontent/dws/bus/columnists/s... - The irony is that tax cuts for the rich under the Bush Administration made taxation more progressive as it grew the overall tax base. More here: http://taxprof.typepad.com/taxprof_blog/2007/10/top-1-pay-more-.html http://taxprof.typepad.com/taxprof_blog/2007/10/top-1-pay-mo... "The new data shows that the top-earning 25% of taxpayers (AGI over $62,068) earned 67.5% of the nation's income, but they paid more than four out of every five dollars collected by the federal income tax (86%). The top 1% of taxpayers (AGI over $364,657) earned approximately 21.2% of the nation's income (as defined by AGI), yet paid 39.4% of all federal income taxes. That means the top 1% of tax returns paid about the same amount of federal individual income taxes as the bottom 95% of tax returns."

teuobk 17y ago

Nice charts showing this data (albeit a few years out of date): http://perotcharts.com/category/taxation-charts/page/7/ http://perotcharts.com/category/taxation-charts/page/7/