“The Evil Rich Are Carrying Us” — An Update
Steve Forbes notes the following in his subscription-only column in the June 19 issue of Forbes that adds an exclamation point to this previous post:
The top 0.1 percentile earned 8% of the nation’s personal income and paid 15% of federal income tax revenue.
With 136 million tax return filers (second paragraph at link), that means 136,000 filers and their families are shouldering 15% of the personal income-tax burden.
Is that “progressive” enough?
And those few souls who haven’t read this previous BizzyBlog post (”Voodoo Schmoodoo”) may need this timely reminder from Forbes:
Experience has repeatedly demonstrated that if you want more money from the rich, cut tax rates.
