Friday, September 17, 2021

Tax the Rich!

That is the cry splashed in red on the back of the dress Alexandria Ocasio-Cortez sported at the Metropolitan Opera's opening Gala. The is another manifestation of what Mises called the anti-capitalistic mentality

 It turns out, of course, that we are already taxing the rich:


According the Tax Foundation, in 2018 the top 50% of income earners pay slightly over 97% of all tax revenue. The top 10% of income earners pay over 71% of taxes. The top 1% pay over 40% of all taxes. Meanwhile, those in the bottom half of income earners paid a mere 2.9% of the taxes taken in by the government in 2018.