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Reply to "For those with high HHI ($500K), tax saving strategies"
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[quote=Anonymous][quote=Anonymous]Our federal income tax code is highly progressive. [/quote] Eh...I don't know that our tax code is what you'd call "highly progressive". We're more like middle-bottom for progressive tax rates but live with high, and increasing, wealth inequality. So it's easy to say "my word, the top 10% are paying all the taxes! we're so progressive!" when in reality the 10% have almost 80% of the money so yeah. Figure 1 Top Effective Marginal Tax Rates in 2019 and Their Composition [img]https://taxfoundation.org/wp-content/uploads/2019/10/TEMTR-41Countries.png[/img] https://taxfoundation.org/research/all/eu/taxing-high-income-2019/ [img]https://preview.redd.it/wealth-inequality-by-country-oecd-data-v0-6lutkla5vbdb1.png?auto=webp&s=b23267f599db0543967d76ef0bd29582a48b002e[/img][/quote]
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