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Oct 20

The U.S. Already Has one of the World’s Most Anti-Rich Tax Structures

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Political observer Michael Barone watched the recent Democratic debate very closely. His conclusions are here.

The Democrats vying for President talked a great deal about “income inequality,” but offered few solutions to this alleged problem. A constant theme among current Democrats (and government trusters generally) is that “the rich” must be taxed more; and their wealth must be redistributed to “the poor,” to make things more “equal.”

But Barone points out that the current IRS burden already falls mostly on the rich. In fact, the U.S. tax burden is already the most “progressive” (meaning anti-rich) in the modern world:

current rates are the most progressive in the advanced OECD countries. The Scandinavian countries praised by Sanders have value-added (meaning sales) taxes around 25 percent.