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So what if tax revenue has been flat as a percent of GDP? That says nothing as to how the burden of that tax is allocated.
by elliekelly 8y ago
So what if tax revenue has been flat as a percent of GDP? That says nothing as to how the burden of that tax is allocated.
- opo 8y ago>So what if tax revenue has been flat as a percent of GDP? Like with much data, it has to put in context with other data, but I am pretty sure most people don't know that fact. As how that tax burden is allocated, do you think the rich paid more of a share of the taxes back when there were high rates? In 1980 the highest federal marginal rate was 70%. The top 10% paid 49% of federal income taxes in 1980 and the bottom 50% paid 7% of federal income taxes. In 2015, the top 10% paid paid 70% of federal incomes taxes and the bottom 50% paid 3% of federal income taxes. (http://www.ntu.org/foundation/page/who-pays-income-taxes http://www.ntu.org/foundation/page/who-pays-income-taxes)