[quote=ocrenter]
Low hanging fruit does not mean high yielding fruit. The truly high yielding fruit is that top one percent. But the gov certainly has its work cut out for it to go after that.[/quote]
The top 1% took home 1.5 trillion income in year 2010. Of that they paid 354 billion in taxes. For an effective tax rate of 23.39
The top 10% took home 3.6 trillion in income and paid 670 billion in taxes. For an effective tax rate of 18.46
The top 25% took home 5.4 trillion and paid 827 billion for an effective tax rate of 15.22.
The thing is that the top 1% takes home about 20% of the income while the top 10% takes home about 50% of the income while the top 25% takes home about 67% of the total income.
With a 1.3 trillion dollar deficit each year the numbers say that if your going to fix the problem with revenue you probably need to go after the top 10% and more likely the top 25%. It’s just a numbers game where the super rich don’t have enough to take to fix everything. I think that’s the biggest problem that people don’t understand. They think the rich have enough to tax to keep all the spending programs they are in favor of in tact, but the rich don’t actually have that much.
