The Numbers Inside a Hot-Button Issue

The graph below shows an interesting dynamic between the share of income people receive vs. the amount of taxes they pay.  As incomes have risen in the upper class, so too has their share of income taxes paid.  Taxes has become a hot button topic in this years Presidential campaign.  Obama wanting to increase taxes to stop deficits while Romney wants to decrease taxes and focus more on spending cuts to reign in deficit spending.

This WSJ article takes a look inside the numbers to give a different view point on the tax situation in the US.

• "Who's right: Obama or Romney? Both. Or neither," says Joseph Thorndike, a tax historian. "When it comes to taxing the rich, there is no single, objectively correct answer. You can talk all you want about asking rich people to pay 'their fair' share,' but don't kid yourself. You're just trying to turn private opinions into public policy."