As it happens, the Tax Policy Center at the Urban Institute and the Brookings Institution evaluated the distributional impact of Bowles-Simpson?relative to current policy. ? Here is what they found:
Look at the column entitled "Percent Change in After-Tax Income." ?Everyone takes a hit, but the hit in the lowest quintile is near zero--for the top one percent, the hit is almost three times higher than average; for the top 0.1 percent, it is four times higher than average. ? This looks awfully progressive to me...Source: http://real-estate-and-urban.blogspot.com/2012/07/bowles-simpson-what-am-i-missing.html
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