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A tax that starts at 90% for low income people and ends up at 2000% for high net worth individuals would be the one of the most progressive tax systems imaginab
by willcipriano 5y ago
A tax that starts at 90% for low income people and ends up at 2000% for high net worth individuals would be the one of the most progressive tax systems imaginable and yet would be completely unaffordable. The average percentage of earnings paid to taxes and governmental fees would be a better judge of this but that I've never been able to find data like that.
- gumby 5y agoA reasonable proxy is state expenditure per capita. In the case of california, the state happens to collect a disproportionate amount from cap gains which helped in 2020 and caused a crisis in 2008. Also spending is higher per capita in the less densely settled (and predominantly Republican) portions of the state (most of it if you look at a political map) simply because the infrastructure is thinner and more critical and social services are more expensive to provide.