One of the more provocative claims in the book is that the American tax system, taken as a whole, and including state and local taxes, is not progressive, meaning it does not tax the rich more than the middle class or working poor. Instead, they write in their book, when you include the totality of taxes, "The US tax system is a giant flat tax—except at the top, where it's regressive." That is, the rich now pay a smaller tax rate on their income than everyone else.
Planet Money
GREG ROSALSKY - Is the American Tax System Regressive?
1 comment:
Taxes that are avoidable arguably violate equal protection under the law. Two taxes that are unavoidable:
1) Negative interest on the inherently risk-free debt of monetary sovereigns, including account balances* at the Central Bank (aka "reserves" when the account holder is a depository institutions).
2) A land tax payable in land, not money.
*except for individual citizens up to a reasonable account limit as a natural right of citizenship.
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