Timothy Noah of the New Republic asks how progressive our tax rate really is. The answer? Not very:
If you ask me, 17 percent to 29 percent isn’t a very progressive spread. Worse, the top one percent’s effective tax rate (29 percent) is a mere four percentage points higher than the effective tax rate (25 percent) for the middle fifth, whose average income is $42,000, as against–let me say it again–the one percent’s $1.4 million.