1) in NYC 5000 people out of 8.4 million pay 50% of all city taxes
2) in California 150,000 pay 50% of state taxes
3) in America the top 1% pay 40% of all federal taxes.
No other country rips off the rich like we do in America but ,sadly, the joke is on us because when you take incentive and capital from your most productive citizens and give to your least productive, ie., liberal bureaucrats and free loaders, everyone suffers in a poor economy whose heart has been cut out.
It works like this: I print 1 billion dollar for myself, hand in 1 million to government as tax, register an income of 2 million dollar, so that I have a tax rate of 50%. And I complain that the tax is too high
Most of the rich people do not get their income through working, but money printing, directly or indirectly, depends on how close they are to the FED and large commercial banks