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That is one way to look at it. Another way to look at it is that taxes on the richest brackets are at their lowest point in like 50 years, while simultaneously
by BookmarkSaver 10y ago
That is one way to look at it. Another way to look at it is that taxes on the richest brackets are at their lowest point in like 50 years, while simultaneously those people have accumulated an even higher portion of the total wealth/income in the economy. Taken out of context, what you are saying seems significant. Looking at it historically, the rich haven't really had it better regarding taxes and their share of the country's wealth in the last century. Put this way, raising taxes or adding new higher tax brackets seems pretty reasonable.
- refurb 10y agoThe percent of all income taxes paid by the wealthy has gone up over time, not down. As mention before on HN, yes rates were higher a while ago, but so were deductions. Nobody actually paid a 90% marginal rate.