From the Real World World Economics review blog:
Sometimes a picture is very powerful.
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Share of Total pretax income of top 10% in UK: 35%
Share of Total posttax income of top 10% in UK: 31%
Share of Total tax paid by top 10% in UK: 54%
Share of Total pretax income of top 1% in UK: 13%
Share of Total posttax income of top 1% in UK: 10%
Share of Total tax paid by top 1% in UK: 25%
http://www.hmrc.gov.uk/stats/income_tax/table2-4.pdf
@Gary Thanks, Gary; That makes the case for progressive taxation beautifully. See how much vital revenue can be taken off the very rich for so little pain on their part.
A similar graph for the Uk would be instructive.
@David Rotherham
So 1% of the population contribute a quarter of EVERYTHING in the public sector (then don’t use much of it themselves by going private for health and education).
What proportion SHOULD 1% of the population bear? what would be fair to your mind?