An end to billionaires.
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11th October 2019, 11:25 AM
Join Date: Dec 2006
Originally Posted by
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.
From your link:
The tax system in the United States has become a giant flat tax ó except at the top, where itís regressive.
The notion that America, even if it may not collect as much in taxes as European countries, at least does so in a progressive way, is a myth. As a group, and although their individual situations are not all the same, the Trumps, the Bezoses and the Buffetts of this world pay lower tax rates than teachers and secretaries do.
This is the tax system of a plutocracy. With tax rates of barely 23 percent at the top of the pyramid, wealth will keep accumulating with hardly any barrier. So too will the power of the wealthy, including their ability to shape policymaking and government for their own benefit.
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