(click to enlarge)
From the National Bureau of Economic Research, via HuffPo:
The rich just keep getting richer -- not only by gobbling up more income, but also by paying less in taxes. That means less support for the poor, who are getting increasingly poorer relative to the top one percent.
One chart in a new study of income inequality in developed nations, published by the National Bureau of Economic Research, puts this in stark relief. It shows that the more top tax rates are cut, the greater the share of national income that is mopped up by the wealthiest citizens.Of course, the United States is at the most extreme in terms of income inequality and tax cuts for the rich. The next worst? The United Kingdom, still suffering from Thatcherism (see also: austerity for thee, tax cuts for me).
