The upper 1 percent may have seen a 9.4% increase in taxes, but:
Quote:
Two-thirds of the nation’s total income gains from 2002 to 2007 flowed to the top 1 percent of U.S. households, and that top 1 percent held a larger share of income in 2007 than at any time since 1928, according to an analysis of newly released IRS data by economists Thomas Piketty and Emmanuel Saez.
During those years, the Piketty-Saez data also show, the inflation-adjusted income of the top 1 percent of households grew more than ten times faster than the income of the bottom 90 percent of households.
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- Center on Budget and Policy Priorities
http://www.cbpp.org/cms/index.cfm?fa=view&id=2908
Quote:
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Originally Posted by The Mercenary
Why not let the portion that pays the least pick up some of the slack?
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Because the portion that pays the least is living paycheck to paycheck, trying to get by. Their incomes didn't show anywhere near the increase that the upper 1% did, and they can least afford higher taxes.
Why all this hand wringing over millionaires? Baby needs a new Mercedes?
