A new report by the Organization for Economic Cooperation and Development (OECD) shows how extreme the progressivity of our tax system has become. The U.S. "has the most progressive tax system and collects the largest share of taxes from the richest 10% of the population." That's right: our tax system is more progressive than Sweden's.
Currently, the top ten percent of American income earners pay 71 percent of all income taxes.
Our excessively progressive tax system has created a dangerous situation in which anyone can vote for politicians who promise to deliver goodies by "spreading the wealth," but only a handful are responsible for paying the bills. Whether a democracy can survive indefinitely under these circumstances is an open question. If Barry wins we probably are going to get the chance to find out since he wants to make the industrialized world's most progressive tax system even more progressive.