Taxes and the Top Percentile Myth | Alan Reynolds | Cato Institute: Commentary

Taxes and the Top Percentile Myth | Alan Reynolds | Cato Institute: Commentary: "'the upper 1% of the income distribution earned 19.6% of total income before tax [in 2004], and paid 41% of the individual federal income tax.' No other major country is so dependent on so few taxpayers."

"if tax rates on high incomes, capital gains and dividends were increased in 2013, the top 1%'s reported share of before-tax income would indeed go way down. That would be partly because of reduced effort, investment and entrepreneurship."