While income distribution has become a source of protest and political debate, any analysis of taxes paid in high tax-and-spend countries shows that the U.S. has the most progressive income tax system in the world. An inconvenient truth for the advocates of higher taxes on America's rich is that big governments in developed countries are funded not by taxing the rich more than the U.S. does, but by taxing everybody else more.You could take all of Gates' and Buffet's and Zuckerberg's wealth (as opposed to merely taxing their income) and not put a dent in our debt. We've got to stop spending so much.
Saturday, April 07, 2012
Redistributionists, Beware the Taxing Power of the Federal Government
Here's what we learn in the Wall Street Journal: