MEMO TO CLASS WARRIORS: THE USA - UNDER THE BUSH TAX RATES - HAS THE MOST PROGRESSIVE INCOME TAX IN THE WORLD

MEMO TO OWS CLASS WARRIORS:

NOT ONLY THE DOES THE USA HAVE THE MOST PROGRESSIVE INCOME TAX IN THE WORLD, BUT THE BUSH TAX RATE CUT WAS NOT SKEWED TO THE RICH, BUT WAS TOTALLY FAIR AND JUST.

HERE'S PROOF:

1 - THE USA - UNDER THE BUSH TAX RATES - HAS THE MOST PROGRESSIVE TAX RATES IN THE WORLD:

U.S. Has Most Progressive Tax System for OECD-24

	B. Percentage shares of richest 10%
	1. Share of taxes of the richest 10%	2. Share of market income of the richest 10%	3. Ratio of shares for richest 10% (1/2)
Australia	36.8	28.6	1.29
Austria	28.5	26.1	1.1
Belgium	25.4	27.1	0.94
Canada	35.8	29.3	1.22
Czech Republic	34.3	29.4	1.17
Denmark	26.2	25.7	1.02
Finland	32.3	26.9	1.2
France	28	25.5	1.1
Germany	31.2	29.2	1.07
Iceland	21.6	24	0.9
Ireland	39.1	30.9	1.26
Italy	42.2	35.8	1.18
Japan	28.5	28.1	1.01
Korea	27.4	23.4	1.17
Luxembourg	30.3	26.4	1.15
Netherlands	35.2	27.5	1.28
New Zealand	35.9	30.3	1.19
Norway	27.4	28.9	0.95
Poland	28.3	33.9	0.84
Slovak Republic	32	28	1.14
Sweden	26.7	26.6	1
Switzerland	20.9	23.5	0.89
United Kingdom	38.6	32.3	1.2
United States	45.1	33.5	1.35
OECD-24	31.6	28.4	1.11

THE IDEA THAT WE SHOULD INCREASE TAXES ON THE TOP 10% OR 1% IS BASED ON DELUSIONS.

RAISING INCOME TAX RATES ON THE RICH WOULD DO LITTLE TO REDUCE THE DEFICIT - (IF YOU INSTITUTED A 100% TAX RATE AND CONFISCATED ALL THEIR MONEY IT WOULD NOT ELIMINATE THE DEFICIT!) - AND RAISING THEIR RATES WOULD MAKE THE TAX CODE ACTUALLY LESS FAIR, NOT MORE.

THE RICH ALREADY PAY MORE THAN THEIR FAIR SHARE.

THE RICH IN THE USA PAY A HIGHER SHARE THAN THE RICH ANYWHERE ELSE.

2 - HERE'S PROOF THAT THE BUSH TAX RATE CUT WAS FAIR:

Here's a little story to illustrate the point that an across the board TAX CUT is the most fair type of tax cut:

Three friends go to dinner. One is VERY RICH, one is MIDDLE CLASS, one is WORKING POOR. They order their own meals. The VERY RICH guy orders the lobster tails for $55, the MIDDLE CLASS guy orders steak for $30, and the WORKING CLASS guy orders hamburger for $15. When the bill comes, it should be $100, but because they are the 1 millionth table served at the restaurant, they get 33% off the bill - so it comes to only $67.

What is the fairest way for them to divide the discount - the $33?

Should they each get $11? (That would mean the VERY RICH guy would pay $44 - that's 18% off, and the MIDDLE CLASS guy would pay $19 - that's 37% off, and the WORKING CLASS guy would pay $10 - that 50% off.)

Or, should they each get a 30% reduction of the price of the meal they each ordered? That would mean the VERY RICH guy would get an $18 dollar rebate and the MIDDLE CLASS guy would get a $10 rebate, and the WORKING CLASS guy would get $5 rebate.

I think the latter arrangement is fairer. And that's why I think the Bush Tax Rate Cut was fair.

The rich did not get most of the tax cut - as the Left wants you to believe.

In fact, as the chart above proves, the Bush Tax rates are the most progressive in the world and doesn't favor the rich at all.

Liberals who think otherwise should WAKE UP!