Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: SilentZ who wrote (708580)	4/11/2013 4:14:06 PM
From: Tenchusatsu	1 Recommendation Read Replies (1) \| Respond to of 1574001

Z, there is no correlation to progressive taxation there. The top tax bracket was 90% back then, but that was on income well over $2.5M in today's dollars, and even then, the rich usually paid no more than 40% thanks to the VERY generous deductions allowed. Like I said, get rid of the deductions. Flat tax on all income above $50K. No more FICA or Medicare tax. Too bad the flat tax will never pass, not just because of bleeding hearts like yourself, but because politicians will never let go of their favorite tool in shaping the economy, which is the tax code. Tenchusatsu

To: SilentZ who wrote (708580)

4/28/2013 11:07:44 AM

From: TimF

1 Recommendation Respond to of 1574001

They're not really progressive.

In terms of percentage of income (total federal taxes, not just income taxes) paid to the feds*, US taxes are very progressive (much more so then most European countries for example, they tend to have higher top rates, but they also have VATs)**. In terms of percentage of the tax burden paid by the rich, US federal taxes are even more progressive, and have become increasingly so over the years despite, or arguably because, the top rates are lower then they used to be.

* Message 28862968

**
reason.com

washingtonexaminer.com

aei.org

themonkeycage.org

Chart Data
Percent of total income Percent total taxes paid

OECD Average	28 %	32 %
Germany	29 %	32 %
Czech R.	29 %	34 %
Netherlands	28 %	35 %
U.K	32 %	39 %
Italy	36 %	42 %
Ireland	31 %	39 %
U.S.	33 %	45 %

A study of the progressiveness of household taxes (income plus social security taxes) by the Organisation for Economic Co-Operation and Development charts the percent of taxes paid by the top 10 percent of households in OECD countries and compares that number to the percent of income earned in each country by the same top 10 percent. The U.S. finishes at the top of the list, with the highest tax-to-income ratio of any country. Above are the top countries, as well as the average for all 24 OECD countries studied.

realclearmarkets.com