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> is that they are capturing the returns from automation, because they control the capital and market-ish economies generally funnel gains to owners of capital
by akira2501 5y ago
> is that they are capturing the returns from automation, because they control the capital and market-ish economies generally funnel gains to owners of capital.
I believe Government Tax policy has only helped to serve this end.
In the 1950s, roughly: 50% of federal revenue was from personal income taxes, 25% was from corporate taxes, and 25% from excise taxes.
Today, roughly: 85% of federal revenue is from personal income taxes, 7% is from corporate taxes, and 8% from excise taxes.
- refurb 5y agoPercentages do a great job of lying with statistics, so I’d want to see absolute growth there as well. And are social security and Medicare included in these taxes? If so, social security was massively expanded and Medicare came into being. These were a big increase in income taxes but individuals are also the major beneficiaries.