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by Retric
2440 days ago
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US tax code is in effect surprisingly flat and it’s stuck like that because it collects 27.1% GDP and nobody pays extreme rates. https://en.m.wikipedia.org/wiki/List_of_countries_by_tax_rev... For an extreme example a homeless drunk spending most of their income on alcohol is paying a 40% tax for the privilege. Benefits are of course a separate issue, but few want to calculate benefits from free roads, Medicare, police, or Social Security as government welfare. At the other end Bill Gates actual lifetime income is vastly higher than his taxable income due to the charitable tax deduction and capitals gains being deferred until sale. |
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