US income inequality continues to grow

[Benton]

(07-25-2018, 03:24 PM)michaelsean Wrote: We aren't shifting the burden to lower classes.  They don't pay anymore then before.  

Sure they do.

Take Kentucky. Our GOP-led lawmakers are super proud of their tax reform which essentially lowered income tax for the highest bracket, where most middle class and above earners fall (myself included, so, yay!). It went from a high of 6% down to 5%. Lower income earners went up to 5%, instead of the graduated 2-5%.

But the state knew it wasn't going to make a ton of money by increasing lower income tax brackets, you need more taxes. So, they started taxing goods and services. Which hits high income and low alike... except that businesses and higher earners can write some of that off as an expense. 

And that's just on consumption and income taxes. That's not even touching the disparity in wages versus long-term investment returns or other forms of income.