In the US at least, the rich (top 1%) pay almost 40% of all taxes. Look at the top 10% and it's 71% of all taxes.[1]
Why do you say it's hard to tax the rich?
[1]https://taxfoundation.org/summary-latest-federal-income-tax-...
In the US at least, the rich (top 1%) pay almost 40% of all taxes. Look at the top 10% and it's 71% of all taxes.[1]
Why do you say it's hard to tax the rich?
[1]https://taxfoundation.org/summary-latest-federal-income-tax-...
The fact that the 1% can pay 40% of all taxes and still be wealthy is an indication of how massive inequality is on the US.
So let's see if that's happening...
Top 1% pay 40% of all taxes. How much of total income do they earn? Interesting, only 21%. Looks like they already take on a much higher burden than their income alone would suggest.
The only tax analyzed here is the federal individual income tax, which is responsible for more than 25 percent of the nation’s taxes paid (at all levels of government). Federal income taxes are much more progressive than federal payroll taxes, which are responsible for about 20 percent of all taxes paid (at all levels of government), and are more progressive than most state and local taxes.
Should the top 1% be paying 100% of all taxes? 90%?
If we had a target we'd know how to get there.