UK example of why high tax rates on the rich don't work

[GenuineRisk]

Originally Posted by dellinger63

The top 1% pay 30% of the income tax.

I'd say they're doing more than their fair share.

Except that the top 1 percent own 42 percent of the nation's wealth, so in fact, no, they aren't doing their fair share; they're living off the backs of the rest of us. There's nothing like being rich to make a person expect free stuff.

http://thinkprogress.org/economy/201...t-one-percent/