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No, because they are getting wealthier at a greater rate than either the middle class or poor. The U.S. didn't used to have this problem when the upper tax brac
by cmurf 9y ago
No, because they are getting wealthier at a greater rate than either the middle class or poor. The U.S. didn't used to have this problem when the upper tax bracket rate was above 70%. It's plausible it doesn't need to be that high if deductions aren't as generous as they were when taxes were that high (for more than a generation by the way, so it's not like extremely high taxes at the top brackets has some civilization ending result - we already know it doesn't, in fact it acts as a strong incentive to avoid taxes by taking deductions in creative ways which ideally also have a social benefit).