Post #15160 by Dope1 on the US Policy board

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Biden's quote didn't say the federal income tax. He said federal tax.

And you brought up State taxes...

We're not in Dr. Pangloss' best of all possible worlds. Just because this is what we have doesn't mean it can't be improved. There are a lot of problems with wealth taxes, but that doesn't mean that the exemption of most billionaire earnings from effective taxation isn't a problem or that we shouldn't try to explore other measures to mitigate how low their proportionate tax burden is.

In the aggregate they don't have a low proportion, as the data shows. Wealth taxes are horrible disincentives.

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