4 ms·
What would you propose, squeeze more water from the stone? The bottom 45% of wage earnes are broke as hell, they hardly have any income to tax. Meanwhile, the t
by DanTheManPR 7y ago
What would you propose, squeeze more water from the stone? The bottom 45% of wage earnes are broke as hell, they hardly have any income to tax. Meanwhile, the top 20% have so much more money that you can raise 87% of income tax revenue even with today's more flattened tax brackets.
- jazzyk 7y agoBut in the supposedly socialist Europe, even lower income people pay SOME amount in taxes. For example, in Spain, you pay 19% on the first 12,450E, and the rate quickly goes up to 45% for anything over 60,000E (average income is ~30K) There are some personal allowances and deductions, but most people pay at least some tax.