Well, sometimes I really do get tired of trying to reason with these people. Are we really back to the line that the rich are sorely oppressed, because their share of tax payments has risen — never mind how much their share of income has risen?
Let’s look at the tax data — the CBO estimates that separate the really rich from the only very rich only go up to 2005, but things probably haven’t changed much since then. And let me present what they say using one technique the Tax Policy Center uses routinely, asking what effect a change in taxes would have on after-tax income, other things equal. Here’s what I get for changes from 1979 to 2005:
Changes in tax rates have strongly favored the very, very rich.
Now, they’re only a fairly small part of the huge growth in the after-tax inequality of income. But tax policy has very much leaned into that growing inequality, not against it — and anyone who says otherwise should not be trusted on this issue, or any other.
Paul Krugman @'NY Times'
Let’s look at the tax data — the CBO estimates that separate the really rich from the only very rich only go up to 2005, but things probably haven’t changed much since then. And let me present what they say using one technique the Tax Policy Center uses routinely, asking what effect a change in taxes would have on after-tax income, other things equal. Here’s what I get for changes from 1979 to 2005:
Now, they’re only a fairly small part of the huge growth in the after-tax inequality of income. But tax policy has very much leaned into that growing inequality, not against it — and anyone who says otherwise should not be trusted on this issue, or any other.
Paul Krugman @'NY Times'
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