alt Hacker NewsYes, but far less. We can have tax free thresholds, you know. Like the capital gains exemption for sale if a house.
Any working class person against higher and broader capital gains taxes is not thinking very deeply, in my opinion.
Yes, but far less. We can have tax free thresholds, you know. Like the capital gains exemption for sale if a house.
Any working class person against higher and broader capital gains taxes is not thinking very deeply, in my opinion.
Hard disagree. Compared to the OECD average, we collect almost double in personal tax revenue as a proportion of total tax revenue. What's more, historically personal tax revenue as a % of GDP stays roughly the same - regardless of active tax rates.
Where we fall dreadfully short compared to other countries is corporate tax revenue. In 2021, corporate income tax revenue in the U.S. was 1.6% of GDP, compared to the OECD average of 3.2%