PROGRESSIVE TAXATION….This won’t come as any surprise to regular readers, but since the New York Times made a nice graphic about it for us, here it is again: federal tax rates by income level.
Americans cling to a myth assiduously promoted by the right that America has a progressive tax system that punishes the wealthy. It doesn’t. Once you get above the level of the working poor, actual federal tax rates are virtually flat, ranging from 14% to 21%. At the high end it’s even worse: a middle class pipefitter making $50,000 a year pays the same tax rate as Jack Welch. A bank manager making $75,000 pays more.
Middle class Americans are being played for suckers by the Republican party, and if Democrats had any brains they’d be pounding on this day and night. If someone could get the point across to them, the vast majority of Americans would probably be shocked to realize that the Republican party has slowly but surely dismanted the progressive tax system in this country.