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Nrsolis | 7 years ago
The simple fact is that most people ARE middle-class. The bottom income 25-30% of working-age people contribute little to nothing to income-tax receipts. The top 5% in each region have enough assets to live comfortably but carry approximately 70% of the income tax burden. When you get to the top 1%, it's something like 46% of all income-tax receipts IIRC.
So....the folks in the middle carry the burden of the rest of that load.
FWIW, My numbers are approximate but close enough for this discussion. Since tax policy most directly affects people in the middle, it's very important to get it right. Since tax policy for the very rich affects things like investment and business formation, you don't want to tax those income generators to death. For the bottom, you want them to benefit from the programs in place so they can join the ranks of the middle class and pay something back.
But you assertion that nobody (or very few) is middle class anymore I think doesn't align with the facts.
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