Episode 62: Progressive Taxation Makes Everyone Worse Off
Words & Numbers
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The Top Quintile of Taxation
The top 20% are paying an average effective tax of about 23%. So this is the lion's share of all taxation. This is what brings us to this statement every time we talk about tax cuts in this country, people say, well, you're talking about tax cuts for the rich. And what's happened is we put ourselves in a position where by definition, every tax cut is a tax cut for the rich because they're the only ones who are paying.
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