07-17-2012, 02:20 PM
(07-17-2012, 01:58 PM)Cracker Wrote: If we taxed all income, ALL INCOME at say 10%, everybody is paying the same proportion, the same share. If you have more, you pay more, but it is the same percentage of the same total.
I think that was something Herman Cain had trouble getting through to some of his flat tax system critics.
Anyway, link below is a good article (imo) about the 1% vs. 99% that I read a few months back, if anyone's interested.
A couple of more interesting stats from the article:
The top 1 percent of earners in a given year receives just under a fifth of the country’s pretax income, about double their share 30 years ago. They pay just over a fourth of all federal taxes, according to the Tax Policy Center. In 2007, they accounted for about 30 percent of philanthropic giving, according to Federal Reserve data. They received 22 percent of their income from capital gains, compared with 2 percent for everybody else.
http://www.nytimes.com/2012/01/15/busine...wanted=all