Monday, September 14, 2009

Flat tax now or we revolt

A paragraph of this interesting piece by Johathan Chait caught my eye:

"The bottom 99 percent of taxpayers pay 29.4 percent of their income in local, state, and federal taxes. The top 1 percent pay an average total tax rate of 30.9 percent..."

So there's a 1% difference when the totality of taxes are gauged. In other words, we basically have a flat tax.

In light of this fact, perhaps the maudlin right, those who feel Obama is punishing the rich, could just chill out with the apocalyptic stuff for a while.