June 21, 2004
Regressive Taxation, Take III
Scientific American has a short article (subscription only link) about the national trend toward a regressive tax system. This supports my past thoughts about how government is skewing the tax burden toward the middle- and working-class. This table from the article tells the story of how the wealthiest pay a much lower rate than the rest of us.
The links in the article direct the reader to a couple of interesting tax policy sites, with a comprehensive study of the regressive trend, a much shorter press release, and a good ol' screw those fat cats study.
It all boils down to this: the progressive income tax system is slowly being dismantled, and the only way governments can replace the lost revenue is to jack up sales and property taxes, which places more and more of a burden on you and me while leaving the wealthy and their government minions laughing all the way to the bank. Wake up, people.Posted by tat at June 21, 2004 10:03 PM