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

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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

Taking income from the rich and giving it to the poor is one way—again, temporarily—of boosting the real income growth of the poor and lower middle class. Like unfunded tax cuts, this remedy cannot be applied forever. 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 per

For each dollar earned in 2005, the top 10 percent received 48.5 cents.

“47 percent” (the fraction of the population who currently pay no federal income tax).