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Cake day: June 15th, 2023

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  • Easy enough to understand with simple ratios. If the top 1% holds 50% of the nation’s wealth, we would expect they should pay somewhere around 50% of the nation’s taxes. If their wealth increases to 60% you would expect the amount of taxes they pay to go up by a relatively equal amount.

    Conversely the lower 99% would pay an inverse proportion of taxes. If the wealthy are becoming propositionally more wealthy, the less wealthy should be paying less of the nation’s taxes.

    Now, that doesn’t necessarily mean that someone in the 99% will actually pay less taxes, as their wealth is not increasing at the rate of the 1%. It just means that the wealthy should be paying more as their proportion of the nation’s wealth keeps growing.