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Make the upper half pay for the lower half, so hike taxes on anyone making more than $68,000USD (US household median income). Once you hit double the median in
by refurb 4y ago
Make the upper half pay for the lower half, so hike taxes on anyone making more than $68,000USD (US household median income). Once you hit double the median income (~top 10%) you should be paying >50% in total tax rate. More than 4x median income ($275,000) should be paying 67% of income in taxes.
We could fund everything with that kind of revenue.
- SyzygistSix 4y agoYou imagine the state could fund everything with that but it won't because we don't have the kind of voters who vote for that kind of tax policy in the first place. Or even reasonable tax policies that are more progressive than what the US has now. Thank goodness, because even the most progressive countries in the EU realize taxation at that level would be incredibly counter-productive.
- refurb 4y agoThose aren’t far off from welfare-heavy EU rates. 40% marginal rate starting at 50,000GBP in the UK. The EU can afford high public spending because it has high taxes, including on the middle class.