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The US tax rates are vastly lower than that, and we still have enormous amounts of tax evasion (legal and illegal). Looking at the language from much of the US'
by lhc- 11y ago
The US tax rates are vastly lower than that, and we still have enormous amounts of tax evasion (legal and illegal). Looking at the language from much of the US's rich, and they're basically stating that any tax is too much, so I'm not sure there's a rate you could charge that will be sufficiently low to encourage civic responsibility from those who think they should not pay any taxes for anything.
- vlehto 11y agoSame with rent and the poor, they always complain. Does this mean that any rent control mechanism is unnecessary?
- SeoxyS 11y agoThe US tax rate is hardly lower… if you live in San Francisco and are in the top bracket, you pay 50%+ tax rate if you don't make an effort to minimize (aka dodge) your exposure.
- ThomPete 11y agoAnd so many of those benefit from getting access to capital gains instead if they get stock which many who are in the top bracket do.
- enraged_camel 11y agoBeing in the 50% tax bracket does not mean paying 50% of your income in taxes.
- AnthonyMouse 11y agoThe people engaging in significant tax avoidance aren't the ones who make $1 more than the threshold for the highest tax bracket, they're the people (and corporations) who make many millions or billions of dollars and would otherwise have an effective tax rate that has converged to the highest marginal rate.
- pstrateman 11y agoIn california it often does.
- charonn0 11y agoCould you cite a source on that? I'm not aware of any income tax bracket over 39.6%
- SeoxyS 11y agoDon't forget state income tax. In California this tops out around 12% or so. State + federal adds up to over 50% total.
- wfo 11y agoIn what universe is 50% not less than 70%? In what universe in America is anyone being taxed at 70% right now?
- muzmath 11y agoEven more so, an the relative difference of |70% - 50%| / |%50| = 40% is gigantic. A very misleading statement.
- raverbashing 11y agoYou're probably counting the federal tax, don't forget to add the state tax as well At a certain point of earning lawyers and accountants (and shell companies) are cheaper, earnings are not direct and it's hard to make people pay their fair share (without making it difficult for smaller firms, etc)