Comment Re:Why not just raise taxes on the rich? (Score 1) 623
There are 10 tax payers in a pretend country, 9 make $100 per year and 1 makes 1,000,000 per year. Each of the low income earners are taxed 50% of their income and together contribute $450 to the total tax collected. The high income earner is taxed 1% and contributes $10,000 to the total tax collected. Here the top 10% of earners are paying over 95% of the total ammount taxed, so it's more than fair to those in the bottom 90%, right?
I wonder how the tax structure of the 1980s would look if income distribution were taken into account in the analysis. Perhaps more similar to the common "misconception" people have about the time period?