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The Inconvenient Truth about Taxing the Rich

Gramm and McMillin: The Real Causes of Income Inequality

By Phil Gramm and Steve McMillan, the Wall Street Journal 4/6/12

Excerpts:

While income distribution has become a source of protest and political debate, any analysis of taxes paid in high tax-and-spend countries shows that the U.S. has the most progressive income tax system in the world. An inconvenient truth for the advocates of higher taxes on America’s rich is that big governments in developed countries are funded not by taxing the rich more than the U.S. does, but by taxing everybody else more.

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