Taxpayers in the top 5 percent of income already pay for more than 43 percent of the U.S. government, and taxpayers in the top 1 percent pay for more than 27 percent; at some point, taking more resources from the wealthy yields diminishing returns. Many of the Obama reforms, including much of the stimulus bill, and the health care bill, redistribut

A recent study found that the wealthiest 0.01% – those with more than $45 million in net wealth – evade 25% of all taxes they owe, compared to an average evasion across all income brackets of 2.8%.44 This may sound like data from a notoriously unequal country like the US, but these data are in fact from Scandinavia. In the US, researchers found tha

Here’s a fun fact: An income of $35,000 puts you in the top .81% of world incomes. Congratulations 1%’er! Want to know where your income puts you? Check it out here: www.globalrichlist.com

Specifically, in 1928, the top 1 percent accounted for 24 percent of all income. In 1970 the one-percenters’ share of the wealth was down to about 9 percent, the result of multiple economic dynamics and government policies, including the New Deal reforms and the post-war growth in the 1950s and 1960s of the country’s manufacturing base and, with it