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This is one of the more interesting points that gets lost in the "tax the rich" talk. I believe this is because people's general political point of reference is
by mazteraz9 5y ago
This is one of the more interesting points that gets lost in the "tax the rich" talk. I believe this is because people's general political point of reference is their individual situation and not the overall system - but from the system point of view it truly is just a drop in the bucket.
- Closi 5y agoEh, the top 1% of earners are responsible for c15% of income. Bear in mind that these will be on a higher tax band too, so a figure of c25% of income tax revenue is pretty likely - hardly a drop in a budget.