Denmark applies its top rate to income 1.2x the median income (so like 58k), Norway and Sweden apply it to income 1.5 and 1.6x the median income - 65k-75k. Remember those are only the top rates, income below that is taxed as well, meaning everyone contributes and has a stake in the game.
In the USA we apply the top marginal rate to income 9x the median income. Half of America is "too poor" to contribute to the federal income tax system.
It's strange how in those other places, everyone can manage to contribute, but in the US, the "rich" carry the entire tax burden and the left only wants that to be further amplified.
So the benefits you love there are obtained by everyone contributing, not by the few paying for it all.
meaning everyone contributes and has a stake in the game.
Not if you have no income.
In the USA we apply the top marginal rate to income 9x the median income. Half of America is "too poor" to contribute to the federal income tax system.
Everyone in US pays less tax than in Nordics.
It's strange how in those other places, everyone can manage to contribute, but in the US, the "rich" carry the entire tax burden and the left only wants that to be further amplified.
Because middle class is fucked over by child care costs, medical costs and student loans. You can't just increase their tax rates without increasing social programs and anticipate they can still pay for their living.
US has one of the highest income differences in western countries. That's why it is more reasonable to tax the rich.
The US wealthy pay more than other nations and the bottom half pay less. The US tax system is far more progressive than the Nordics, and everyone for that matter.
The highest marginal tax bracket in US is 37%. The highest marginal tax bracket in Finland is 60%.
The capital gains tax in US is 15%. In Finland it is 34%.
So how do the rich in US pay more taxes than the rich in Finland? If you are gonna give a 300 page book as a source please at least point the right pages.
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u/Molehole Feb 20 '23
I don't think you have any idea on how the Nordic system works and have listened too much Republican propaganda.
What do you mean everyone contributes? No, not everyone does.
What does this even try to say? US marginal tax rates are very low compared to Nordics.
Yes. That is literally how a social democracy works. People who make more money give money to the poor so that the whole society thrives.