Thursday, April 24, 2014
One justification President Obama et al use to increase taxes on the "rich" is that high earners "did not build that", with "that" being all of the infrastructure that enables business to operate.
Based on the most recent Federal income tax data it appears they actually did build most of it:
The Top 50 Percent of All Taxpayers Paid 97 Percent of All Income Taxes; the Top 5 Percent Paid 57 Percent of All Income Taxes; and the Top 1 Percent Paid 35 Percent of All Income Taxes in 2011.
HT Don Boudreaux
Posted by William Occam at 2:58 PM