Wednesday, January 6, 2016

Small changes in taxes

This is Joseph

Matt Yglesias has a really nice chart on how effective tax rates have gone up on the top 1% and top 0.1% of earners in the recent administration.  It's still not a crushing burden -- it looks like about 27%, for both groups, based on the chart (from a low of 19%/23%).  It definitely makes one wonder about things like this piece, where Chris Dillow wonders why rich people object to taxes. 

But it is worth remembering that we aren't talking about a crushing increase in tax burden here, even if there are other sources of taxes other than federal income taxes.  None of us like paying taxes (it is an expensive world) but these are not the scale of increases that I suspect lead to crushing burdens.

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