| Lies, damned lies, and statistics. Apparently the WSJ is majoring in the latter. (Can't be sure about the first two, but I'm beginning to have my suspicions.) Here's a fact you will never read in the WSJ but you can take to the bank as true: the wealthy keep a larger percentage of their income each year after paying all of the taxes they pay of every sort than do the poor and middle class. Only in income taxes is there any progressivity at all; all other taxes are regressive relative to income.
I can't wait to read the editorial in the WSJ the day when the wealthiest 1% has 100% of the nation's income. |