The percentage of the tax take goes up because the richest 1%'s income has gone up massively while the bottom 90% has stagnated.
"It's better for the USA to get it's cut of Facebook's success rather than drive Facebook into a tax haven and get nothing."
And the race top the bottom continues.
yea the race to the bottom pretty much defines human progress. It is a great thing. That is why $100 today can get you what a king could not get 200 years ago.
Actually I think it is technological progress that drives what you have described. Take some things that have remained unchanged in the same time period. The price of land, property or gold for example. $100 will get you a lot less of those.
Wages going down for the majority, while a few get a lot richer is hardly what I would describe as progress.
The UK competes with many other places for where the rich want to live. France has had a disaster with their recent proposed 75% tax rate.
The same goes for entrepreneurs - would you register your startup in the USA if the tax rates, especially on capital gains were massively higher than elsewhere? It's also a question of VC capital - would they let you.
It's better for the USA to get it's cut of Facebook's success rather than drive Facebook into a tax haven and get nothing.