An April 15 thank you.
Few will say it, so let me join Mark J. Perry in expressing a heartfelt "Thank you" to the people who are paying a disproportionate share of the federal burden.
Here's his thank you:
I’m probably in the minority, but as Tax Day approaches and as we analyze and compare tax burdens, I would like to personally express my sincere gratitude to: a) the 3 million Americans in the top 1% with incomes above $615,000 for shouldering almost half of the total US income tax burden with only 17% of the total income, b) the 16 million Americans in the top 5% with incomes above $261,000 for bearing almost two-thirds of the income tax burden with only 29% of the total income, and c) the 65 million Americans in the top 20% with incomes above $134,000 for shouldering almost the entire tax burden (84%) with only about half (51%) of total US income. Thank you entrepreneurial, hard-working, successful Americans in the top 20% for shouldering such a disproportionate share of the total federal income tax relative to your income – you’ve helped to ease the tax burden on the rest of us in the bottom four quintiles.
Even with a flat tax the high income people would still be responsible for a big portion of the federal revenue. The progressive tax system insures that they pay an even bigger portion. Anyone who really desires fairness should take a hard look at that. But then, a desire for fairness isn't the true motive. "Fairness" is just a rationale for income redistribution.
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