Pity the Overtaxed Rich

A letter to the editor in the Boston Globe today, not the first of its kind in recent days, asserts that high-income households already pay an unfair share of taxes.

Dr. Dollar debunked this idea back in 2002. The federal income tax may be mildly progressive, but add in payroll taxes (Social Security and Medicare) and state and local taxes, mostly regressive, and tax collections overall leave the highly-skewed distribution of income relatively untouched.

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