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Yes. Which is why those countries in Europe with all those government provided bennies have a highly regressive tax structure in comparison with the US. People forget, we already have the most progressive income tax structure in the world. Trying to figure out what they believe doubling down on it will somehow suddenly change wealth inequality. If anything, it appears there is a correlation between the more progressive a tax structure and the greater the gap in wealth between the top and the bottom. Several states come to mind as some proof of concept to the idea.
100% correct. I've posted the research on this, which has enraged several lefties. They simply will not accept the truth.
How do we square this thread about the claim of wild enthusiasm about higher taxes with the thread about people complaining about their tax bill and making twitter complaints etc.?
As I fully expected, math and plain English didn't get through.
Are you still insisting that the Federation of American Scientists and the Congressional Research Service are liars? That's pitiful. How brainwashed ARE you?
Yes. Which is why those countries in Europe with all those government provided bennies have a highly regressive tax structure in comparison with the US. People forget, we already have the most progressive income tax structure in the world. Trying to figure out what they believe doubling down on it will somehow suddenly change wealth inequality. If anything, it appears there is a correlation between the more progressive a tax structure and the greater the gap in wealth between the top and the bottom. Several states come to mind as some proof of concept to the idea.
European countries have progressive income tax system, and that is a fact. You can argue that the presence of VAT in Europe and absence of VAT, or low sales taxes in US makes European countries tax system regressive (because they pay more in VAT), but it is a futile/desparate play of words. Their income taxation is progressive.
0% from 0 kronor to 18,800 kronor
Circa 32% (ca. 11% county and 20% municipality tax which is the Swedish average): from 18,800 kronor to 468,700 kronor
32% + 20%: from 468,700 kronor to 675,700 kronor
32% + 25%: above 675,700 kronor[4]
https://www.expatica.com/de/finance/...loyees-108112/
Germany Income tax is progressive, starting at 14% and rising incrementally to 42%, or for very high incomes, 45%. The top tax rate of 42% applies to taxable income above €55,961. For taxable income above €265,327, a 45% tax is applicable.
In Finland Taxation of an individual's income is progressive.
In other words, the higher the income, the higher the rate of tax payable.
In 2018 the income tax rate (national tax) for an individual is between 6%-31.25%.
In addition to direct taxation there is also municipal tax in Finland.
Well 76% of registered voters should be happy because my taxes went up in 2018 substantially. My family income does not fall into earning over 10 million (not nearly) but we are paying much more... Where is the money going?
European countries have progressive income tax system, and that is a fact.
Not as progressive as you think. For example, Scandinavian countries put their middle class in the highest tax bracket PLUS charge them Vat taxes on top of that:
Also, it's interesting to compare the effective federal income tax rate a typical worker (average income) pays in the US: 3% or less (as reported by FAS: https://fas.org/sgp/crs/misc/R45145.pdf) and around 10-11% when payroll taxes are added, to the rate a typical worker pays in European countries. The effective national tax rate is in the second from the right column on page 9:
...taxpayers with incomes of $200,000 or more paid well over half (58.8%) of federal income taxes,...
By contrast, taxpayers with incomes below $30,000 filed nearly 44% of all returns but paid just 1.4% of all federal income tax – in fact, two-thirds of the nearly 66 million returns filed by people in that lowest income tier owed no tax at all.
Disingenuous argument without telling us how much those over $200k are earning. Personally, I would go for a flat tax, but as it stands, the top folks are making way more than they are paying in tax. The hedge fund managers paying capital gains tax on their income are getting away with highway robbery
How do we square this thread about the claim of wild enthusiasm about higher taxes with the thread about people complaining about their tax bill and making twitter complaints etc.?
I know what it is but it's not too complimentary to the general public.
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