Re:Too Hot for TED: Income Inequality
by fl3tch on Wednesday May 16, 2012 @08:22PM
(#3984768)
> I think it's also worth noting that the US already gets 70% of all its taxes from the top 10%
Yes, but they also own 70% of all the wealth[1], according to 2007 numbers (the percentage is almost certainly a little higher today), so that's perfectly proportional. If you own 70% of the wealth, you should pay 70% of the taxes.
Re:Too Hot for TED: Income Inequality
by ojbyrne on Wednesday May 16, 2012 @08:46PM
(#3984824)
Actually, since almost every country in the world thinks progressive income taxes are the right thing to do, then this is an argument supporting higher taxes on the wealthy.
Yes, but they also own 70% of all the wealth[1], according to 2007 numbers (the percentage is almost certainly a little higher today), so that's perfectly proportional. If you own 70% of the wealth, you should pay 70% of the taxes.
http://www.businessinsider.com/15-charts-about-wealth-and-in...