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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (50219)	8/4/2013 4:17:39 PM
From: TimF	Read Replies (1) \| Respond to of 85487

yet glorify the fact that the tax code is skewed to oppress the middle class and let the rich get richer. No, if it was set up that way I'd oppose it, but it isn't. Its set up so that wealthy people pay a higher percentage of their income. here are effective tax rates (total taxes divided by total income) for 2005... Lowest quintile: 4.3 percent Second quintile: 9.9 percent Middle quintile: 14.2 percent Fourth quintile: 17.4 percent Percentiles 81-90: 20.3 percent Percentiles 91-95: 22.4 percent Percentiles 96-99: 25.7 percent Percentiles 99.0-99.5: 29.7 percent Percentiles 99.5-99.9: 31.2 percent Percentiles 99.9-99.99: 32.1 percent Top 0.01 Percentile: 31.5 percent gregmankiw.blogspot.com I've posted more up to date data somewhere else on SI, maybe here, but it follows the same trend line as the 2005 data, so I don't feel like making the effort to search for it right now. The extremely rich, pay slightly less than the merely rich, but they pay more than anyone else. And until you reach the .01 percent level the percentage of income paid in tax goes up with income. Regulation, in your world, is only bad if it impedes the rich from getting richer. You seem to fall in to the habit of imagining something about someone, and then responding to your imagination, rather then the actual words in their posts.