Top 1 percent of tax returns paid 36.7 percent of federal individual income tax - Shooting Sports Forum

In response to: Top 1 percent of tax returns paid 36.7 percent of federal individual income tax - Shooting Sports Forum

You're right, small business is the backbone of the economy. But, corporations are a legal entity, and where they were paying roughly half of the tax burden in 1980, they're now paying about 5%, without any corresponding cuts in spending. Where did the money go? Right into the pockets of the 1/10 of 1% of households, and the 1% they support.

Here's an article on individual taxes, http://paul.kedrosky.com/archives/2011/12/us-tax-rates-in-three-graphs-not-boring-really.html

So, while the middle class has had stagnant wages since the 70's, the top tiers have been doing quite well, thank you. The only problem it the party was thrown using borrowed money, and now the bills are coming due.

Retail in the US may as well have a "going out of business sale" in January. Then comes the commercial leg of the real estate bust. And another round of TBTF bailouts from the Fed. It might work, but I'm not counting on it.