Forbes: Why Some of the Rich Want to Pay More in Taxes

Those with the very highest incomes have benefited disproportionately from tax cuts, and that lost revenue is driving the federal deficit ever higher. The Institute on Taxation and Economic Policy estimates that since 2001, “significant federal tax changes have reduced revenue by $5.1 trillion, with nearly two-thirds of that flowing to the richest fifth of Americans.” Twenty-two percent of the tax cuts have gone to the top 1 percent. And by 2025—in just seven more years—ITEP estimates that lost revenue will have more than doubled, to $10.6 trillion, with nearly $2 trillion going to the top 1 percent, those with annual incomes over $420,000. Read more