What percent of wealth does the top 1% possess vs the bottom 90 percent combined?
Wikipedia says the top 1% possesses precisely 38.5% of the country's wealth, so it's more than reasonable that they shoulder at least 38.5% of the taxes. [1] This stat is also from 2016. That divide has grown immensely these past few years.
The stat the Tax Foundation presents is made to make us sympathetic towards people who control basically the entire nation's wealth and pay, frankly, very little. There's a reason they're not putting their wealth in the EU or developed Asian countries--they'd be paying more.
Income and this income taxes are first derivatives of wealth. It doesn't make sense to directly compare the two. The wealthy spend relatively little of their wealth on discretionary spending.
Wikipedia says the top 1% possesses precisely 38.5% of the country's wealth, so it's more than reasonable that they shoulder at least 38.5% of the taxes. [1] This stat is also from 2016. That divide has grown immensely these past few years.
The stat the Tax Foundation presents is made to make us sympathetic towards people who control basically the entire nation's wealth and pay, frankly, very little. There's a reason they're not putting their wealth in the EU or developed Asian countries--they'd be paying more.
[1] https://en.wikipedia.org/wiki/Wealth_inequality_in_the_Unite...