The Big Picture - Macro Perspective on the Capital Markets, Economy, Technology, and Digital Media

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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “Taxes Plunge for Rich”

1. jrm Says:
   April 19th, 2011 at 4:59 pm

   And still :

   In 1980, the top 1 percent of earners paid 19 percent of income taxes, and the bottom half of earners paid 7.1 percent. A decade later, with a lower maximum rate, the top 1 percent paid 25 percent of taxes, while the bottom earners paid just 5.8 percent. By 2008, top earners paid 38 percent of taxes, the bottom half 2.7 percent.

   (from Bloomberg)

2. Deflator Mouse Says:
   April 19th, 2011 at 6:25 pm

   jrm
   Maybe that’s because the top 1% of earners were netting (after taxes) ~170% increases between 1979 and 2005, while the bottoom earners gained…well, not so much.

   http://en.wikipedia.org/wiki/File:Income_gains.jpg

   PS Amity Shales is a hack.