alt Hacker NewsWe dodged a huge bullet in the US with this. We already pay _excessive_ amounts of federal income tax for extreme inefficiency, the vast majority of it simply being funneled into the pockets of the ultra wealthy.
We dodged a huge bullet in the US with this. We already pay _excessive_ amounts of federal income tax for extreme inefficiency, the vast majority of it simply being funneled into the pockets of the ultra wealthy.
When you say excessive amounts of federal income tax, do you mean each tax payer, or the overall amount?
The top 10% of taxpayers contribute 72% of all income tax, so 90% of them aren't really contributing a lot, so per tax payer it's not a lot.
The overall amount is staggering, yes.