2 posts tagged “politics”

Freakonomics highlighted an article in the new york times regarding taxes. Here are some quotes:

Freakonomics Writeup
NY Times Article

The poorest fifth of the population, with average annual income of $15,400, pays only 4.5 percent of its income in federal taxes. The middle fifth, with income of $56,200, pays 13.9 percent. And the top fifth, with income of $207,200, pays 25.1 percent.

At the very top of the income distribution, the C.B.O. reports even higher tax rates. The richest 1 percent has average income of $1,259,700 and forks over 31.1 percent of its income to the federal government.

and a statement that sums my position up:

To libertarians like Professor Nozick, requiring the rich to pay more just because they are rich is little more than officially sanctioned theft.