Link:https://aswathdamodaran.blogspot.com/2021/10/the-billionaire-tax-worst-tax-idea-ever.html
Graphic:
Excerpt:
The pushback from progressives is that this graph misses key components, including other taxes collected by the government (payroll taxes, Medicare taxes, estate taxes etc.), and that it is the tax rate that is paid, not dollar taxes, that better measures fairness. In 2018, for instance, the federal effective tax rates paid by different income groups were as follows: [above]
Author(s): Aswath Damodaran
Publication Date: 25 Oct 2021
Publication Site: Musings on Markets