In a Los Angeles Times story
about McCain and Obama's tax plans, there is this graphic:
Even though (for the most part), Obama's plan raises taxes starting at an income of $250,000 - which is the upper 5% or so, the Times
presents a figure for the wealthiest 20% (which includes the top 1%) and, when all the algebra is done, makes it look as if a household with an income of $120,000 is going to see a tax hike.
That's what using quintiles will do. But it's misleading. The Times
should have, as much as possible, shown how the plans would work out, using the brackets that McCain and Obama's plan use.
All that averaging does is make it look like Obama's plan is tougher on the middle class (if we can use that word) than it really is.
Wow. I'm in the same bracket as Bill Gates and Warren Buffett!
If they averaged our incomes, I'd gladly pay the averaged tax.