Hacker News new | ask | show | jobs
by xyzzyz 1139 days ago
It doesn’t really matter how much tax is paid by “the rich” (say, top 1 in 1000), because collectively, they make too little money to make much of a difference even if we taxed 100% of their income.

What does matter is taxation on top 20% of population, and they do pay a lot of money on property taxes.

1 comments

The income (including capital gains) of the top tenth of a percent are more than 10% of total income.

The average federal income tax is under 15%.

It would make a ridiculously large difference.