Rshermr
VIP Member
Good post. Accurate. And you kept it simple, so that even a sixth grader could understand. But it will be way over eds head.That's a function of income distribution and not marginal rates. Best you look into it before thinking you know what you're talking about.
but ours is the most progressive in the world in that we depend on revenue more from the top 1% than any other country. Stealing investment capital from our most productive people obviously harms the economy!
Try to stay with me, Ed. Our policy (rates and brackets) are not the most progressive, by any means.
However, for the last 1/3 century, the reduction in progressive rates has created a more dual society, in which income is trending to highest-bracket earners in near historic degrees. So the bulk of the tax burden accruing to them is a function of them making most of the money, with less taxable income being distributed to the middle class.
Raise rates on the middle class, and the dynamic will not change. The top 10% simply have too much of the income, now.