Tax cuts

Here's a good one. I've talked about how taxes are historically low right now, which also means the government raises proportionally less money than ever. But does everyone share those cuts equally?


Nah.

The chart is pretty self-explanatory - people up to the top 80th percentile pay almost exactly the same as they have for the past 50 years. Some a little more, some a little less, but it's all very marginal differences.

It's only the top 20%, and really significantly the top 1%, that have seen any real cuts to their tax rate. Put another way, the tax cuts over the past 30 years have almost exclusively benefited the top 20%. That's not the coolest.