We can see from the 3rd graph that all group have seen a decline in their tax rate over the last 30 years.
At the same time, the top 5% have seen their share of total income expand from 30% to 40% of the economy.
The most impressive number is what is not included in the article. In which the top 1% saw their total income expand from roughly 10% to 20% of the economy within the past 30 years.
What this really means is that all of the income expansion within the top 5% essentially went to the top 1%. Put in another way, the 99% either seen flat growth in income or had falling income.
How come the WSJ missed this important and crucial piece of information???
Back to the top 1% tax rate, which was included in the article, that average rate fell from 35% down to less than 30%. So while the top 1% increased their share of the total income, their tax rate declined.
Is that right?
The reason you as a top 2-5% earner is feeling p*ssed is because you are falling behind just like everyone else, while the top 1% continue to push their weight around.