Taxing the 1%: Why the top tax rate could be over 80%

Thomas Piketty, Emmanuel Saez, Stefanie Stantcheva, 8 December 2011

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In the United States, the share of total pre-tax income accruing to the top 1% has more than doubled from less than 10% in the 1970s to over 20% today (CBO 2011 and Piketty and Saez 2003). A similar pattern is true of other English-speaking countries. Contrary to the widely held view, however, globalisation and new technologies are not to blame.

Topics: Poverty and income inequality, Taxation
Tags: Occupy Wall Street, US, wage inequality

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