But who are these rich who should pay?
The economists reckon (based on tax-filing data) that an income of around $107,540, excluding realised capital gains, puts an American household in the top 10% of American families. To get into the top 5%, you need to earn less than $150,000. To me, it\’s something of a wake-up-call to realise that a couple who make $75,000 each are in the top 5% of American households.
Well, actually, two New York City teachers in a household, each with a modicum of qualifications and tenure, would be those rich who should be paying for everything.
Which isn\’t really what people think they\’re saying when they do say that the rich should pay for it all, is it?