Originally posted by chancellor
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1) Fact #1: We are paying historically low levels of taxes right now, as a percentage of GDP. This is true for Federal taxes, as well as for combined Federal, State, and Local taxes.
2) Fact #2: The percentage of taxes paid by the Top 1% (or Top 5 or 25 or 50%) is higher than before. But that is NOT because their taxes are too high. It is because their income is a higher fraction of total income than before. So of course, their share of taxes goes up.
If you want to claim that taxes are too high, the only way to demonstrate that is by looking at the ratio of taxes paid to income earned. Not by looking at the share paid by the Top 1% (or whatever percentage you want).
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