| | | There's a reason nobody who likes the percentage comparisons wants to look at the actual numbers.
If the top 1% own 40% of wealth, the other 99% owns 60%.
That means for every $1 one of the lower 99% has, one of the top 1% has $60.60. (of each $1000, 1% has $400, 99% share the remaining $600, at $60.60 each)
So, an individual with 66 times more money is paying 70.6% of the taxes.
Sounds about right to me, considering money earned to pay the basic costs of food, clothing, medical care and shelter should be taxed at a much lower rate than money earned to pay the costs of yachts, Gulfstreams, Maseratis, country club memberships, caviar and the gold-plating of room decor.
Do you disagree? |
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