I'm talking about the total tax burden.
The super-rich pay mostly just income and capital gains taxes, since the other taxes (FICA, sales, property, sin) are highly regressive.
We've spent 30 years lowering the taxes that the rich pay while increasing the taxes that everyone else pays.
The world is not going to end if we go back to a 20% capital gains and dividend tax rate.
The super-rich pay mostly just income and capital gains taxes, since the other taxes (FICA, sales, property, sin) are highly regressive.
We've spent 30 years lowering the taxes that the rich pay while increasing the taxes that everyone else pays.
The world is not going to end if we go back to a 20% capital gains and dividend tax rate.
I assume you speak of capital gains and related.
Of which I say the road to poverty (for everyone) is paved with high taxes on capital. Be very careful of what you ask for as you just could get it.
In terms of income taxes, what you post is just not true.