The random political thoughts thread (Part Deux)

[Ghoulish Delight]

Originally Posted by scaeagles

Well, obviously they are. The top 1% paying 38% of the income tax bill is paying way more. What would make it "their fair share"?

Again, if they're earning more than 38% of the income, then yes, they should account for more than 38% of income tax.

Let's make it simple.

Let's assume a country with a population of 10 people whose income breaks down to:

1. $1,000,000
2. $200,000
3. $50,000
4-10. $10,000 each

Then person #1 is making about 75% of the county's income, and should account for 75% of the country's taxes. And those bottom 6 people should account for only about 3% of the taxes.

That's obviously an extreme example, and I doubt it's quite at the 75% level. But 38%? 40%? 50%? Yeah, I have no trouble believing that 50% or more of the United States income is earned in a year by the top 1% of earners.

[Ghoulish Delight]

Originally Posted by Ghoulish Delight

Yeah, I have no trouble believing that 50% or more of the United States income is earned in a year by the top 1% of earners.

Especially when you consider that that top 1% has infinite ways to generate wealth that is not considered "income" and is protected from taxation.