[QUOTE=jfrog;1035829]
Here's an example of my math:
99(people)* 100,000(average income) = 9,900,000(total income) * 10%(tax) = 990,000
1(person) * 10,000,000(average income) = 10,000,000(total income) * 10%(tax) = 1,000,000
One question would be what if top 1% were only making on average 50 times more than the other 99%.
99(people)* 100,000(average income) = 9,900,000(total income) * 10%(tax) = 990,000
1(person) * 5,000,000(average income) = 5,000,000(total income) * 10%(tax) = 500,000
In this case the top 1% would be responsible for about 33% of all taxes.
jf - you actually are ok with numbers, surprising!
I don't know if your assumed numbers line up with reality, though.
We also have to remember that the income tax is based on what your income was for that year, not for any accumulated wealth.
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