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The VAT figures into the "total taxes" of figure 1 as described in the last paragraph is broken out as "goods and services" category of fig 2. This still does n
by dv_dt 8y ago
The VAT figures into the "total taxes" of figure 1 as described in the last paragraph is broken out as "goods and services" category of fig 2. This still does not change the meaning of fig 1 where the US is strongly below average taxes.
If the wealthy are the most taxed in the US, how is it what inequality of both income and wealth is massively skyrocketing in the US?
- ericd 8y ago>If the wealthy are the most taxed in the US, how is it what inequality of both income and wealth is massively skyrocketing in the US? Asset appreciation - a massive bull run in the stock and housing markets. The side effect is that those who own assets benefit far more than those who don't. When everyone talks about Bezos making a huge amount of money this year, they're talking about his unrealized gains. If he actually tried to realize those gains into USD (at which point he'd pay taxes), his wealth would shrink very quickly as Amazon's market price dropped. Also, VAT is a relatively regressive tax.