axt113 said:
mrstickball said:
axt113 said:
First off, a few notes, if you look at the lines, the tax revenues have fallen actually down to about 2000 levels, not to mention, those are not adjusted for changes in GDP, nor for changes i nthe wealth levels of the rich, you argue that the rich are paying more of the portion of the taxes, the problem is, it has not kept pace with the changes in their wealth, they hav gained wealth faster than they have increased any percentage of the total taxes paid, if tax rates were returned to Clinto levels, they would bepaying more and the tax revenue generated would be higher.
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Can you give some data to back up your claims that income among the top 5% is outstripping the percentage of taxes recieved from them?
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Already did, check the links I gave earlier, heck check the gini coefficient stuff that Kaz gave, check the first few links I gave in my first post in this thread on the great divergence
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It showed the opposite, axt. Thats my problem. You didn't do your homework.
Yes, the income distribution is rising in favor of the rich. The question I asked was: Was it outstripping taxes? The answer is no, its not. The actual data shows that as the rich become richer, they are shouldering an even larger burden of taxes.
Lets correlate the data:
Income taxes paid by top 1%:
Income from top 1%:
Merging the two charts together, you find that in 1980, the rich earned about 10% of the income, and paid 17% of income taxes. In 27 years, we've seen the rich increase their income share by approximately 135%, and tax burden by 156%. Or in other words, they pay more taxes as a percentage of income today than they did in 1980.
The numbers don't lie, axt. Your analysis is wrong, because you never actually pulled up income/tax data.
