The Economic Policy Institute has released a chart showing the average overall tax rates in 1979, 1992 and 2007. The picture isn’t pretty.
While the tax rate for you, me and the other 99% of this country has remained pretty much the same over the years, the tax rate for the top 1% has seen a nice decrease in their tax burden and the top 400 households have seen a reduction that leaves them paying less a share than the rest of the country.
How is this fair?
To answer that question, we must throw out everything we know about math and enter the world of GOP economics. You constantly hear the GOP say that these poor rich people have to pay the most in taxes. Of course they do because they also earn the biggest chunk of the money in this country. But for things to be fair, we mustn’t look at total amounts, but rather shares. You and me haven’t thrived off the American dream, but we are paying a bigger share than those who have. The people who need the money the most and would be more out to spend any extra money, which would boost our economy, see a bigger percentage of their earnings go to taxes than the ultra-rich.