Recent polls indicate that Americans overwhelmingly support raising taxes on the rich:
…[A] new POLITICO/Morning Consult poll released Monday that found 76 percent of registered voters believe the wealthiest Americans should pay more in taxes. A recent Fox News survey showed that 70 percent of Americans favor raising taxes on those earning over $10 million — including 54 percent of Republicans.
The numbers suggest the political ground upon which the 2020 presidential campaign will be fought is shifting in dramatic ways, reflecting the rise in inequality in the United States and growing concerns in the electorate about the fairness of the American system.
Actually, I think it reflects a lot of other things, too.
The first is the surge in Democrats and/or the MSM pushing the idea as a great one.
The second is human nature, which is the reason the Ten Commandments include a prohibition on “coveting.”
The third is widespread ignorance about what percentage of our taxes the rich already pay.
The fourth is widespread ignorance about what higher tax rates actually mean in terms of whether such rates will end up raising the total tax revenue collected, or what it would do to the economy in general. But my guess is that most people not only are not aware that higher rates on the rich do not necessarily translate to higher tax revenue, but many don’t care because the driving force behind this for many people is to punish the very rich.
So, what percentage do the rich already pay [this data is from 2016 taxes, the most recent I could find]?:
The latest federal income tax data reported by the IRS shows that the top 1 percent of income earners pay 39.5 percent of all federal income taxes, nearly twice the 20.6 percent share of national income they earn. The entire bottom 50 percent of all taxpayers pay 2.7 percent of federal income taxes, which is only a small fraction (about one fourth) of their share of national income.
The top 1 percent, indeed, pay a much bigger share of federal income taxes than the entire bottom 90 percent of income earners, who pay only 29.1 percent of federal income taxes, while earning 53 percent of national income. That means as well that the top 1 percent pay a bigger share of income taxes than the entire middle class combined, defined as the middle 20 percent of income earners.
The author of that article (written in 2017) adds:
[Democrats such as Liz Warren] know that what they are saying is false, because the above data is all publicly available and they are not stupid. But they know their Democrat voter base has no idea what the rich pay in taxes, and they can stoke envy and anger among them with their false demagoguery, enhancing their turnout at the polls.
They know the so-called mainstream media will never tell the public the truth either. CNN employs economic analysts, but you will never see CNN interview one of them for five minutes on air about whether the data says the rich pay their fair share of taxes without a chorus of left wingers to shout them down.
By the evidence of the polls I cited at the beginning of the article, it’s not just Democrats who fall for this. Fifty-four percent of self-identified Republicans agreed that taxes on the very rich should be raised.
Opinion on this also depends in part on how the “very rich” is defined. Ten million dollars seems safely high, and so more people are going to support that as a cutoff. But the history of such raises is that there is downward creep. In fact, the Sixteenth Amendment, which was passed to allow an income tax, was presented as only affecting the very very rich:
Thirty-six state legislatures had to ratify the 16th Amendment before it could go into effect. The public and most newspapers seemed to favor it. The main argument for ratification was that the amendment would force the wealthy to take on a fairer share of the federal tax burden that had in the past been largely carried by those earning relatively little. Only a few critics spoke out forcefully against the amendment. John D. Rockefeller, one of the country’s richest men, stated: “When a man has accumulated a sum of money within the law. . . the people no longer have any right to share in the earnings resulting from the accumulation.”
Ratification moved slowly but steadily through the state legislatures. Some of the states had already passed income tax laws of their own in seeking new ways to finance public schools and other social needs. Surprisingly, the income tax amendment drew widespread support in cities and in rural areas alike, from both Democrats and Republicans, and in all geographical regions. Even New York ratified the amendment despite the state’s reputation as the capital of “money power” with numerous millionaires among its residents (including John D. Rockefeller). By early 1913, 42 states (six more than needed) had ratified the income tax amendment. Only six states rejected it…
Rep. Cordell Hull introduced the first income tax law under the newly adopted Sixteenth Amendment. He proposed a graduated tax starting with a 1-percent rate for incomes between $4,000 and $20,000 increasing to a top rate of 3 percent for those earning $50,000 or more…
The first tax collection day under the new law took place on March 1, 1914. Since the average worker earned only about $800 a year, few people actually had to pay any federal income tax. Less than 4 percent of American families made an annual income of $3,000 or more. Deductions and exemptions further shrank the pool of taxpayers. Nevertheless, the federal government collected $71 million that first year. Millionaire John D. Rockefeller alone paid an estimated $2 million.
All in all, most Americans thought the new tax was a great idea.


