Quote:
Originally Posted by nfotiu
What are you talking about? Do you know how marginal tax rates work?
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Yes. But it seems what's lost is how effective tax rates work? Because that's the problem with the imposition of a wealth tax. People see the marginal rate and think that's what people pay rather than understanding the effective rate and the impact of tax loopholes. Look at StrangeBrew for example. Maybe we're looking at this from two different angles. Explain to me what you're trying to get at. Tax law is very confusing in the US because it varies so much from state-to-state and even down to the municipal level. Here's an interesting article on the
impact of the tax rates being discussed for the top 1% in each state. Where you live makes a massive difference.