Originally posted by Big Crunch
It actually depends on the banding, but I'll take the US as example. In 2000, 37.4% of federal income taxes were paid by the top 1% of income earners, who incidentally had an income share of 20.8%.
You can't say that either of those figures are small.
It actually depends on the banding, but I'll take the US as example. In 2000, 37.4% of federal income taxes were paid by the top 1% of income earners, who incidentally had an income share of 20.8%.
You can't say that either of those figures are small.
Now, how much would they pay if the rate were slightly progressive.
Now continue to interrate.
Once one determines the tax rate, without deductions, that yeilds the greatest return - well that is the right tax rate. Any other rate is the wrong tax rate.
Comment