I continue to be amazed that any person can look at these numbers and conclude (with respect to federal income taxes only) that the so-called rich do not pay their fair share. In reality, it looks like they pay the vast bulk of the income taxes. And the bottom half pay essentially nothing.
I’ll go even further. I find the federal income tax to be doubly-progressive. A non-progressive tax, imho, would be a flat fee. For example, everyone pays $1000.
We could make it progressive by changing this to a percentage. For example, everyone pays 30% of their income. This way, those with higher incomes (note, not necessarily the rich) will always pay more. But everyone pays the same percentage. We could call this a flat tax, but even in this scenario high earners pay more.
In my opinion, making high earners (again, not necessarily the rich) pay an even higher percentage makes the tax system doubly-progressive.
A third thought: does it concern anyone else that we have roughly half of households/people/taxpayers able to essentially vote themselves a raise with no personal burden or repercussions? Once the majority are able to live off the minority, we may have a problem.
And as I’ve noted above we don’t have a wealth tax to tax the “rich,” we have an income tax.
Cafe Hayek – On the Tax Burden: “E.J. Dionne laments the failure of what he describes as a “proposal [that] could have shifted the tax burden away from middle-income taxpayers toward the wealthy.” Let’s look at some facts. First here.”