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That's why we (US, and much of the world) have progressive tax rates for earned income. Though in the US, we then give lower tax rates for unearned income...
by ghouse 7y ago
That's why we (US, and much of the world) have progressive tax rates for earned income. Though in the US, we then give lower tax rates for unearned income...
- abvdasker 7y agoYou alluded to this, but in reality effective tax rates in the US are actually flat or even regressive due to the favorable tax treatment of investment income as well as the massive deductions for property ownership: https://www.nber.org/papers/w20625 https://www.nber.org/papers/w20625