A new paper on wealth inequality from economists Emmanuel Saez and Gabriel Zucman – who have written frequently on the subject – was released earlier this month. This paper is far better than previous attempts to measure...
- Fraction of Each Quintile's Total Tax Burden Account...
Fraction of Each Quintile's Total Tax Burden Accounted for by Each Type of Tax, Calendar Year 2004
Note: This table measures the economic incidence of taxes rather than the legal incidence. For a more detailed explanation, see "Who Pays Taxes and Who Receives Government Spending? An Analysis of Federal, State and Local Tax and Spending Distributions, 1991-2004," Tax Foundation Working Paper, No. 1, March 2007, available at http://www.taxfoundation.org/files/wp1.pdf.
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In his bestseller Capital in the Twenty-First Century, Thomas Piketty recommends a wealth tax as a remedy to inequality. The basic version of Piketty’s wealth tax would impose a tax rate of 1...
Every year, the IRS adjusts more than 40 tax provisions for inflation. This is done to prevent what is called “bracket creep.” This is the phenomenon by which people are pushed...
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