Quote:
Originally Posted by Flames Fan, Ph.D.
This is a typical canard.
The median effective tax rate is around 25%, with many paying much much less. So the burden is nowhere near the oft-quoted top marginal rate.
Better comparison is tax revenues as percent of GDP. The US is near the bottom of the pack there.
Edit:
Here are the data from the Treasury. If you go to page 24 you'll find that the effective rate across the economy is 17%. I apologize for overshooting it. |
I don't have much of a problem with low personal taxes, provided that they are applied fairly. As in billionaires should be paying more than the 15-17% we so often here. 25-30% is a better number.
Either way, the tax structure is screwed up, IMO. Too many loopholes for starters.