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Happy Days for Liberals/Progressives?

Thanks to Veronique de Rugy, Senior Research Fellow, of George Mason University’s Mercatus Center, we learn “the United States has the most progressive income tax system among industrialized nations.” She uses data from from a new report from the Organization for Economic Cooperation and Development based “on the share of taxes paid by the richest 10 percent of households in 24 industrialized countries.”

Ms. de Rugy describes the chart below this way:

“The richest 10 percent of households in the United States (those making $112,124 or more) contribute a greater share of taxes (45.1 percent of all income taxes) than their counterparts in any other industrialized nation. With the OECD average at 31.6 percent of total tax share from top earners, the U.S. income tax is roughly as progressive as income taxes in Italy, Ireland, Canada, Australia, the Netherlands, and New Zealand.”

In a related post, dated September 19, 2011, at National Review Online’s blog, The Corner, de Rugy focuses on the United States’ progressive income tax system, including charts showing how the top 1%  of wage earners (household income above $380,000) earn 20% of all income, but pay 38% of all personal income taxes. She then comments about the chart:

“As you can see, the (American) tax system is progressive. Does it mean that the rich pay their fair share? I guess it depends on how one defines fairness. But if the progressivity of the income tax doesn’t signal fairness, what does it signal?”

Seems the time is long past to institute a flat tax in America. Liberals may not be happy, but a good case can be made that it would bring greater prosperity to the nation.

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