Consider the following chart from JP Morgan Funds, which illustrates the disastrous policies of "progressive" income taxes.
The top 10% of taxpayers are paying increasingly larger shares of the federal tax burden. Conversely, the bottom 10% are paying less than ever.And the amount of revenues collected by the feds continues to decrease.
How's that 'tax the rich' strategy working out, Sparky?
Source: JP Morgan Funds.
1 comment:
Well you know the librul answer will be that the "middle class" has less money to be taxed because the rich take it all. Hence the rich are paying more.
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