Income Groups over 40 Years

Note that if average tax rates have remained the same for the top 10%, and their income has risen--they are paying a higher proportion of the total tax burden now as compared to what they paid in 1970.

The debate is not so much that higher income earners should pay more---the issue is how much "more" is enough. 

This has real impact on markets. Fear that "surplus" income will be taken away in the future causes the investor class to take fewer risks--hence lower stock prices and lower interest rates.

This economic commentary is related to politics (political economy) and is the sole responsibility of the author and no other. It is not to be considered financial advice or a solicitation for political support.