Unformatted text preview: The gap between the top 1 percent and the top 5 percent of earners is around 20 percent. The lowest 50 percent of earners paid between minimum 2.7 percent and maximum 4.0. The lowest earners paid small percentage of their income because their income is also small more than ten times less than the top 1 percent of earners. Taxes influence decisions regarding hiring, financing structure, and ownership structure. Taxes also often affect the very decision to launch a business. Given these incentive effects yet another important task for this Administration should be to question whether if there was ever a time when taxes on entrepreneurial activity should be lowered and tax incentives easier to implement for entrepreneurs, it is now. Entrepreneurship offers so many public benefits: jobs, innovation, economic growth....
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- Spring '07
- Wealth condensation, Kyu Choi GBUS