Repeat After Me: The American Tax System is Hardly Progressive at All

The latest numbers on 2014 taxes as share of income are out, and they’re saying pretty much the same thing as last year:

Above about $80K a year in income, the American tax system is not really progressive. Like, at all:

The people making $100K a year pay about the same share of income as people making $10 million a year.

This is because — while federal income taxes are reasonably progressive — payroll, state, and local taxes are horribly regressive — particularly in (blush) my home state:

Screen shot 2014-04-19 at 9.32.10 AM

Read it and weep.

Cross-posted at Angry Bear.


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2 responses to “Repeat After Me: The American Tax System is Hardly Progressive at All”

  1. […] turn over their wealth more quickly. Like, raise the minimum wage. Or institute a tax regime that actually is progressive, and use that money to provide for the general well-being by increasing funding for a plethora of […]

  2. […] turn over their wealth more quickly. Like, raise the minimum wage. Or institute a tax regime that actually is progressive, and use that money to provide for the general well-being by increasing funding for a plethora of […]