5 ms·

I mean since we are talking Federal income tax the bottom 50% basically doesn't pay that.

• galangalalgol 4y ago
  Since the distribution is exponential, removing the top tax bracket and raising the rest a little would be revenue neutral, but exacerbate wealth inequality. Not arguing if thats fair or not, just that you can make policies revenue neutral while still favoring the ultra wealthy.
  • ChrisLomont 4y ago
    Except the Reagan cuts lowered taxes on the bottom 80%, and the top saw a small increase. See my other post with historical effective tax rates from the CBO.
  • closeparen 4y ago
    It would exacerbate income inequality. It would favor higher-wage workers. Income and income taxes are irrelevant to the wealthy. Changes in wealth inequality are mostly changes in asset prices.