re: #771 Kosh’s Shadow

The top 1% earn 22.06% of the income and pay 39.89% of the taxes. I don’t have the data for the other strata.

Our tax system has gone way past progressive into confiscatory territory but it has been slow because there has been some push back. When the non-paying number crosses 50% of taxpayers the Dems will have a permanent majority courtesy of the Henrieta and Julio bloc. There will be no push back.

The share of adjusted gross income generated by the top 1 percent has also increased. This share was 22.06 percent in 2006, relative to a level of 20.81 percent reached during the height of the stock market bubble in 2000 (when the income tax share of the top 1 percent was 37.42 percent).