4 ms·
You mean like the US? The top 1% earn 21% of all income and pay around 40% of all taxes. Or do do you mean it should be even more "progressive"? Might higher in
by ghufran_syed 5y ago
You mean like the US? The top 1% earn 21% of all income and pay around 40% of all taxes. Or do do you mean it should be even more "progressive"? Might higher income people change behavior e.g. work less at the margins if that happens? Does that affect the total amount of tax income generated?
https://www.heritage.org/taxes/commentary/1-chart-how-much-the-rich-pay-taxes https://www.heritage.org/taxes/commentary/1-chart-how-much-t...
https://en.m.wikipedia.org/wiki/Laffer_curve https://en.m.wikipedia.org/wiki/Laffer_curve
- iso1210 5y agoThe top 1% don't work for income. They aren't going to do an extra 10 hours this week because they need to save for a new boiler, so why would restoring tax rates to Reagan era rates result in less work being done?
- NovemberWhiskey 5y agoThe poster means the top 1% of income tax payers. Also: you pay income tax on income whether you work for it or not. Try leaving your 1099-DIVs out of your income tax return and see how that works out.
- DarylZero 5y agoLOL "earn" The top 1% take out of the economy a LOT more than they put in. Anything that limits their ability to "earn" is benefiting the rest of society. It is also benefiting the environment & future generations' resource availability.