How much more income did they make
Reader comment on: David Leonhardt's Latest
Submitted by ben (United States), Apr 14, 2010 14:26
Paying a higher percentage of the tax rate is not necessarily inconsistent with a lower tax burden. If in 1980 I made 1 million and paid 300k in taxes, and made 5 million and paid 1 million in taxes, my tax rate actually decreased from 30 to 20%, even though my taxes went up 700k. This is not surprising in a society where the where income gains in the past decades were overwhelmingly concentrated in the top 10, or even 1 percent of income earners.
So, is the "tax burden" the absolute dollars paid, the percentage of income paid, or ones share of the overall taxes collected? I think it makes the most sense to look at percentage paid, which has decreased for the wealthiest (and other as well).
Note: Comments are moderated by the editor and are subject to editing.
Comment on this item