Warren Buffett, billionaire, pays a total tax rate (federal, state, local & corporate) of 11% of his income and investment gains. A typical minimum-wage earner pays total taxes amounting to 33% of her wages.
In the last 30 years the top 1% in the US have gone from owning 22% to 40% of the nation's wealth .. largely due to the tax cuts for the wealthy investor class started then. They were supposed to strengthen the economy. Since then, average GDP growth dropped by one-quarter, due to tax-induced investment bubbles & suppressed consumption .. repeated recessions.
For more, including a proposal for comprehensive tax-reform - that would slash workers' taxes, fund education-research-infrastructure, make our economy & democracy flourish, and slash the deficit - see http://fairsharetaxes.org



