Narrative violation: US tax code is more progressive than European tax codes.
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Wojtek Kopczuk 🇵🇱🇺🇦 and 🇺🇲
@wwwojtekk
The way you pay for the welfare state is by imposing taxes on the middle class
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Does this include property tax? If it did the American middle class might be harder hit.
Yes this includes property taxes. They're in the figure under wealth taxes.
The figure is from this paper, which has the methodology. amory-gethin.fr/files/pdf/Blan
Does this include state and local taxes? And use effective rates on wealthy (cap gains, business pass through)?
Fed income tax alone is pretty misleading in US
Yes this includes state and local taxes. Effective taxes paid, not rates.
I love these graphs, and especially that they show effective tax paid, not meaningless rates which do not accurately represent the tax revenue.
What is the name of this sort of data/graph, and is there one of Australia?
mathematically, only the progressivity of redistribution really matters, which is why student loan forgiveness is so bad