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This statement is flat out false. Tax rates are significantly lower than they were in the past.
by ncallaway 6y ago
This statement is flat out false. Tax rates are significantly lower than they were in the past.
- throwaway0a5e 6y agoRates and effective rates are too different things. Some states have zero income tax but the effective tax rate is often similiar because pretty much every interaction with government is self-funded with fees so the effective tax rate is much higher than the on paper tax rate. Conversely you can have a tax rate and then let people deduct everything under the sun getting a lower effective rate. Kind of like how if you income is below the EIC amount (which is definitively not ideal) in the US federal income tax exists on paper (I forget what the rate is) but the effective rate is zero, possibly negative even)