For some time now, liberals have been demanding—their visages positively aglow with sweet reasonableness—that “the rich” should pay their “fair share” in taxes in order to help the government meet its expenses. Let’s leave aside the fact that they often make up the numbers and manipulate the statistics to suit themselves. (For instance, last year President Obama said that closing loopholes, etc., could produce $1.2 trillion in taxes, now he says it couldn’t produce $800 billion, so only raising marginal rates can force the rich to disgorge their fair share.)
No one can really argue with the proposition that the rich should pay their fair share. Of course they should, just like everyone else. But who are the rich and what is their fair share?