Quote:
Originally Posted by The Yen Man
So this site pretty much proves my point. The effective tax rate for the non 1% is on average 12%, while the effective tax rate for 1% earners is 31%. If anything, it's even higher than my hypothetical example.
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Not really, because that includes all tax fillers. Many who have little or no income. If we want to live in a functioning society, those who earn more will always have to pay more. And they should recognize those earnings are on the backs of the regular earners that their taxes then go to support. Unless you feel they are actually worth 100x what we get paid? In the end, they still take home more in a year than most people make in a lifetime. No one is proposing to tax them down to the level their income matches the average.
It's always baffling to me why people who will never be in these incredibly high earning ranges are so quick to defend the consolidation of wealth, while our services suffer and taxes go up.