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High-Income Taxpayers, Progressivity, and Inequality

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Tax Foundation experts analyze ways to rein in the national debt, including US debt and deficits and federal budget and US spending and taxes

How to Rein in the National Debt

Now is the time for lawmakers to focus on long-term fiscal sustainability, as further delay will only make an eventual fiscal reckoning that much harder and more painful. Congressional leaders should follow through on convening a fiscal commission to deal with the long-term budgetary challenges facing the country.

EU wealth tax discussion and debate EU wealth tax proposal 2023

The Wealth Tax Discussion Is Back

Given that wealth taxes collect little revenue and have the potential to disincentivize entrepreneurship and investment, perhaps European countries should repeal them rather than implement one across the continent.

Details and analysis of the economic growth and opportunity US tax reform plan includes federal flat tax, distributed profits tax, and eliminating the federal estate tax

Details and Analysis of a Tax Reform Plan for Growth and Opportunity

The federal tax code remains a major source of frustration and controversy for Americans, and a hindrance to economic growth and opportunity. Other countries, such as Estonia, have proven that sufficient tax revenue can be collected in a less frustrating and more efficient way.

What’s Missing from the Tax Burden Debate

When we discuss tax policy, the conversation inevitably turns to who pays, who should pay, and how much they should pay. Unfortunately, the tax burdens debate is often missing a key point: how income transfer programs—like Social Security or Medicaid—affect households’ tax burdens.

US Tax Burden on Labor 2023 US Income Tax Burden and US Payroll Tax Burden

The U.S. Tax Burden on Labor, 2023

Although the U.S. has a progressive tax system and a relatively low tax burden compared to the OECD average, average-wage workers still pay more than 30 percent of their wages in taxes.