Originally Posted by Bob001
Recent datapoint... US taxation does not appear to be progressive at this time: [NYT: How to Tax Our Way Back to Justice
Article contains a visual chart that summarizes the problem.
And actually, it's an underestimate, because the superwealthy have different structures for ownership and income that translate into better value from an otherwise identical income. Just as an example, my friend who is very well off as a construction company owner has practically no 'income'. Yet, he has a 'company sailboat' and a 'company condo' at his disposal, all expensed and so the revenues used to buy them were not taxable, since they're allegedly company assets used for business. Wink-wink.