Beginning in 1981, top marginal tax rates in the US have declined to near all-time low levels while the top 1% in America have expanded their share of wealth to all time highs. Though wealthy Americans believe they shoulder more than their fair share of the nation’s tax burden, their opportunity to amass such wealth came through the relaxation of their historical responsibilities to society.
Of note, the last time the top 1% contributed so little in taxes and controlled so much wealth, they brought the US the Great Depression.
