Wednesday, October 29, 2008

Move along Barack, nothing to see here

We are already a socialist country. Way to go, Don Quixote, you picked a fight that has already been won.

Link

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." As Column 1 in the table below shows, the 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. has 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.