I’m not opposed to bumping up the tax rate on the uber rich, but in all fairness the above “graph” should include not just share of income but share of taxes, as well. The 1% noted above pay roughly 40% of all income taxes. The top 10 percent cover around 70% of all income taxes paid and the top 25% pay 85+ percent of all income taxes. Expand it to the top 50% – they pay 97% while the bottom 50% pay the remaining 3%. The bottom 50%’s tax burden has dropped significantly over the past 40 years from roughly 7% down to 3%.
It’s not as inequitable as many think.