Depending on how much money you have, the US experience varies from utopian socialism for the top brackets all the way to ruthless savage capitalism for the disenfranchised.
Admitting to it is the first step towards fixing it.
Then why is there such a gigantic welfare state for the poor in the US?
Why do the top 50% fund nearly all of the government (97% of all taxes)? The top 25% pay around 90% of all income taxes. Why does the US have an aggressively progressive taxation system if it's so utopian for the rich? That's quite obviously not how the rich would choose to arrange things at all. The top 1% take in 26% of income and pay 44% of all income taxes. The top 1% pay the highest average tax rate of any group (26%), over double the median figure.
Medicaid + SS disability + all state and local healthcare programs cost over a trillion dollars per year and are free for the poorest 1/4.
The US Govt alone (not including local or state) spent $200 billion on all of its food assistance programs in 2022.
These programs go toward people who contribute almost nothing in taxes.
rbanffy|1 year ago
Admitting to it is the first step towards fixing it.
adventured|1 year ago
Why do the top 50% fund nearly all of the government (97% of all taxes)? The top 25% pay around 90% of all income taxes. Why does the US have an aggressively progressive taxation system if it's so utopian for the rich? That's quite obviously not how the rich would choose to arrange things at all. The top 1% take in 26% of income and pay 44% of all income taxes. The top 1% pay the highest average tax rate of any group (26%), over double the median figure.
Medicaid + SS disability + all state and local healthcare programs cost over a trillion dollars per year and are free for the poorest 1/4.
The US Govt alone (not including local or state) spent $200 billion on all of its food assistance programs in 2022.
These programs go toward people who contribute almost nothing in taxes.