lovely post doc t

20 % have 85% of net worth
let us hammer this home
when we talk tax burden shares
and this ....40% effectively zero
when we talk safety net

yup
actual households bounce around among
income quintiles
from year to year
and
over the life cycle wealth arc patterns
would be optimal

still its obvious
if absolute or relative consumption
may be a relief guide
if you're
for lowering household
inequality and attendent levels of household
financial insecurity
by our noble fed transfer system

its household wealth that remains
the proper target
for progressive tax extraction
not income or consumption either
---as much as a luxury tax would be great sport---