The Tax Foundation just posted a ton of super-informative, myth-dispelling charts on the U.S. tax system. Here are a few that popped out at me, but there are plenty more at the Tax Foundation website.
- The U.S. income tax code is very progressive.
- And it is more progressive than what it used to be.
- Even with tax breaks, the system is progressive.
- The rich pay twice as high a tax rate.
- Want to tax millionaires and and billionaires? Better be quick about it.
- Income inequality? This explains some of it.
- Also, the aging of America skews income distribution.
- Education also plays a huge role in income inequality.
- Oh, by the way, tax hikes on the rich are also tax hikes on business.
- Taxing the rich won’t solve the debt problem.
Those charts are very interesting.