Richest 1% on target to own two-thirds of all wealth by 2030

Re:Richest 1% on target to own two-thirds of all wealth by 2030 by mikeash on Saturday April 07, 2018 @05:27PM (#16783090)

If you want to count the entire world for wealth then you need to count the entire world for taxes too. I strongly doubt that the super rich are paying the vast majority of taxes worldwide.

For US taxes, see: https://itep.org/wp-content/uploads/taxday2017.pdf

The rate is definitely lower for poorer people, but nearly as much as the standard punditry, focusing only in federal income tax, would have you believe.

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Re:Richest 1% on target to own two-thirds of all wealth by 2030 by ericd on Saturday April 07, 2018 @06:25PM (#16783367)

Unless I'm reading your source wrong, it looks like it says that the top 10% pays 50% of taxes?

I feel like I should make it clear that my personal opinion is that top marginal tax rates should be much higher than they are, especially on capital gains, but I don't think it's fair to say that the working class is paying all the taxes, given the breakdown.

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Re:Richest 1% on target to own two-thirds of all wealth by 2030 by mikeash on Saturday April 07, 2018 @07:24PM (#16783649)

Almost 50%. Add in the next 10% and you get a majority, but not a huge one.

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Re:Richest 1% on target to own two-thirds of all wealth by 2030 by ericd on Sunday April 08, 2018 @02:07AM (#16784854)

49.8%, I think we can call that 50%.

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