We Already Have The Most Redistributionary Tax Code In The World
Or, at least, in the free world anyway according to The Tax Foundation:
Barack Obama’s admission that his policies would “spread the wealth around” has ignited a nationwide discussion of how progressive the tax system should be and how it should be used to redistribute income among Americans. Obama has been very successful in bolstering the conventional wisdom that the U.S. tax system does not place a significant enough burden on wealthier households and places too much of a burden on the “middle class.”
But a new study on inequality by researchers at the Organization for Economic Cooperation and Development (OECD) in Paris reveals that when it comes to household taxes (income taxes and employee social security contributions) the U.S. “has the most progressive tax system and collects the largest share of taxes from the richest 10% of the population.” [... T]he U.S. tax system is far more progressive-meaning pro-poor-than similar systems in countries most Americans identify with high taxes, such as France and Sweden.
Even after accounting for the fact that the top 10 percent of households in the U.S. have one of the highest shares of market income among OECD nations, our tax system is second only to Ireland in terms of its progressivity for households.
[... T]he U.S. [also] collects more household tax revenue from the top 10 percent of households than any other country and extracts the most from that income group relative to their share of the nation’s income.
The tax code is already unfair. And yes, heaping all of the tax burden on the richest minority of Americans is unfair.
Why should we want it to be more unfair? Shouldn’t we want a broader tax base so that everyone in this country has a stake in our government being run efficiently? And without excessive spending?
