Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

The American Prospects Ezra Klein: Do the Rich Pay Too Much?

American ezra klein Prospect
0
Posted

The American Prospects Ezra Klein: Do the Rich Pay Too Much?

0

THE TYRANNY OF THE INCOME TAX Picture an upside-down pyramid with its narrow tip at the bottom and its base on top. The only way the pyramid can stand is by spinning fast enough or by having a wide enough tip so it won’t fall down. The federal version of this spinning top is the tax code; the government collects its money almost entirely from the people at the narrow tip and then gives it to the people at the wider side. So long as the pyramid spins, the system can work. If it slows down enough, it falls. That’s Ari Fleischer, the president of Ari Fleischer Communications, doing some communicating in today’s Wall Street Journal. The op-ed is, for the WSJ, something of a genre piece: The poor don’t pay any income taxes. The rich pay too many. “A very small number of taxpayers — the 10% of the country that makes more than $92,400 a year — pay 72.4% of the nation’s income taxes. They’re the tip of the triangle that’s supporting virtually everyone and everything. Their burden keeps getti

Related Questions

Thanksgiving questions

*Sadly, we had to bring back ads too. Hopefully more targeted.