TW: Above was the graph posted by Greg Mankiw on his blog Apr 15. Mankiw is a conservative economist albeit a moderate for whom I have respect and follow him as a rational economic voice on the right. But one sees the graph and perhaps thinks jeepers tax rates sure are high for those "poor" wealthier folks. The graph below integrates the EFTR above with income by quintile.
TW cont.: So while it is true that the "poor overtaxed" folks in the top quintile pay about 6X the taxes of those actual poor folks in the bottom quintile, those same folks in the top quintile have about 14X the income of those in the bottom quintile. Every April 15th we get the more or less same editorials and snarky posts from the right mourning the "extraordinary" burdens of those at the top, they NEVER mention the blue bars on the graph above, until and unless they do in a rational manner they lack credibility in my eyes.
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