3 ms·

Why pick 2007, except for the fact that it clearly looks like an outlier? It looks to me that the general trend for the top 1% of earners has been a slight inc

Why pick 2007, except for the fact that it clearly looks like an outlier? It looks to me that the general trend for the top 1% of earners has been a slight increase in both income earned and tax paid

refurb 4y ago
Looking at 2007 was a peak in both income earned and taxes paid. Comparing it to today, income earned (as a %) decreased, yet taxes paid (as a % of total) is about the same. So we can at least say from 2007 to now, tax burden increased.
- sensenmann 4y ago
  The tax burden for the top 1% _income_ earners can totally increase while the tax burden for the top 1% wealthy decreases (they earn from dividends, not work)
  - refurb 4y ago
    It’s literally in the data link I posted. The top 25% saw their tax burden increase, the bottom 75% decrease.
    - sensenmann 4y ago
      According to your link the share of Income of the bottom 75% also decreased. Than it is not surprising to see their tax burden decrease. Also, the trend seems to be the other way around: Tax rates of the top households have continuously decreased. [1] https://www.sltrib.com/opinion/commentary/2019/10/07/david-leonhardt-rich/ https://www.sltrib.com/opinion/commentary/2019/10/07/david-l... [1] https://static01.nyt.com/images/2019/10/04/us/tax-trump-wealth-promo-1570228395029/tax-trump-wealth-promo-1570228395029-videoSixteenByNineJumbo1600.png https://static01.nyt.com/images/2019/10/04/us/tax-trump-weal... [2] https://www.washingtonpost.com/business/2019/10/08/first-time-history-us-billionaires-paid-lower-tax-rate-than-working-class-last-year/ https://www.washingtonpost.com/business/2019/10/08/first-tim... [2] https://arc-anglerfish-washpost-prod-washpost.s3.amazonaws.com/public/JA2PZ6DJBFC57D5HWYGFCIA57Q.png https://arc-anglerfish-washpost-prod-washpost.s3.amazonaws.c...
- anonymous_sorry 4y ago
  Probably not a good idea to pick an unusual year as your baseline if you want a reliable conclusion. The trend of both graphs appears to be a modest increase over time, obviously with annual fluctuations.

Why pick 2007, except for the fact that it clearly looks like an outlier? It looks to me that the general trend for the top 1% of earners has been a slight increase in both income earned and tax paid

refurb 4y ago

Looking at 2007 was a peak in both income earned and taxes paid. Comparing it to today, income earned (as a %) decreased, yet taxes paid (as a % of total) is about the same. So we can at least say from 2007 to now, tax burden increased.

sensenmann 4y ago
The tax burden for the top 1% _income_ earners can totally increase while the tax burden for the top 1% wealthy decreases (they earn from dividends, not work)
- refurb 4y ago
  It’s literally in the data link I posted. The top 25% saw their tax burden increase, the bottom 75% decrease.
  - sensenmann 4y ago
    According to your link the share of Income of the bottom 75% also decreased. Than it is not surprising to see their tax burden decrease. Also, the trend seems to be the other way around: Tax rates of the top households have continuously decreased. [1] https://www.sltrib.com/opinion/commentary/2019/10/07/david-leonhardt-rich/ https://www.sltrib.com/opinion/commentary/2019/10/07/david-l... [1] https://static01.nyt.com/images/2019/10/04/us/tax-trump-wealth-promo-1570228395029/tax-trump-wealth-promo-1570228395029-videoSixteenByNineJumbo1600.png https://static01.nyt.com/images/2019/10/04/us/tax-trump-weal... [2] https://www.washingtonpost.com/business/2019/10/08/first-time-history-us-billionaires-paid-lower-tax-rate-than-working-class-last-year/ https://www.washingtonpost.com/business/2019/10/08/first-tim... [2] https://arc-anglerfish-washpost-prod-washpost.s3.amazonaws.com/public/JA2PZ6DJBFC57D5HWYGFCIA57Q.png https://arc-anglerfish-washpost-prod-washpost.s3.amazonaws.c...
anonymous_sorry 4y ago
Probably not a good idea to pick an unusual year as your baseline if you want a reliable conclusion. The trend of both graphs appears to be a modest increase over time, obviously with annual fluctuations.