4 ms·
Is our tax policy still among the most progressive if you account for the full payroll tax (not just the employee side as apparently that study does) as well as
by mikeash 8y ago
Is our tax policy still among the most progressive if you account for the full payroll tax (not just the employee side as apparently that study does) as well as the many other federal, state, and local taxes we pay?
- rayiner 8y agoYes: https://www.washingtonpost.com/news/wonk/wp/2013/04/05/americas-taxes-are-the-most-progressive-in-the-world-its-government-is-among-the-least/?utm_term=.82d39a834534 https://www.washingtonpost.com/news/wonk/wp/2013/04/05/ameri... Looking at those additional taxes for both U.S. and Europe generally makes the U.S. even more progressive. For example, sales taxes are highly regressive. European countries rely heavily on 20-25% VAT taxes to raise revenue, while U.S. states typically have 5-10% sales taxes. The maximum rates and various caps just generally kick in much earlier. In Germany, the income tax rate is 42% for $63,000+, just a few percent below the maximum bracket of 45%.
- mikeash 8y agoThanks!