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The 20% figure has no value out of context, since what matters is their share of income, not their share of the population. Happily the WSJ article does include
by millstone 12y ago
The 20% figure has no value out of context, since what matters is their share of income, not their share of the population. Happily the WSJ article does include that figure: the top 20% earn 51.3% of the income.
It also goes on to say that "The share of tax paid by the top 20% of Americans also changes when such social-insurance levies [Social Security and Medicare] are included: It drops from more than 80% of income taxes to about 67% of all federal taxes."