5/22/18By H. Randolph Holder
The recent so-called “Tax Reform” has maintained our steeply progressive tax structure. The top 20% of households, with 52% of total income, pay about 87% of income taxes, up almost 4%. The lowest 60% of households with 27% of U.S. income will pay no tax. And the vilified 1% will pay 43% of income tax, up 13% despite what Nancy and Chuck claim to the contrary.