The Rich Ride Free (Or At Least Very Cheap)

Paul Krugman reproduces a table from Tax Policy Center showing the effective income-plus-payroll tax rate as percentiles of individuals in various income ranges from less than $10k to more than $1m. You need to view the table, but here’s the nut graf of his commentary:

Here’s how to read this: 40 percent of taxpayers with incomes between 30K and 40K pay more than 12.9 percent of their income in income and payroll taxes; meanwhile, 25 percent of people with incomes over $1M pay less than 12.6 percent of their income in these taxes. This suggests that there are a lot of very-high-income guys paying a lower tax rate than their secretaries.

(Bolds mine.)

To put it bluntly, this is immoral. Those whom society has made wealthy should not be paying proportionately less in taxes than those just getting by. That is just plain wrong.

“Class warfare”? Call it what you like. I say… eat the rich (but cook them thoroughly first).

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Comments

  • NTodd Pritsky  On Friday September 23, 2011 at 2:58 pm

    Soylent Green is made of RICH PEOPLE!

    • Steve  On Friday September 23, 2011 at 4:55 pm

      Well, you knew the green had to come from somewhere…

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