The media likes to talk about rhetorical wars on women when there is a real War on Capital being conducted by Washington right now. The US has the highest corporate taxes in the world. We have the most progressive tax system in the developed world. It's simply harder now than it used to be to generate and keep wealth. While the consequence of a War on Women seems to be that they might have to pay for their own contraceptives, the consequences of the War on Capital, is to drive investment to places other than the US. And the President thinks it would be a good idea to make the US even LESS competitive by imposing a new alternative minimum tax on the most productive people in the country?
Table 4.5. Alternative measures of progressiveness of taxes in selected OECD countries, mid-2000s
|
||||||
Concentration of household taxes and market income
|
Percentage share of richest decile
|
|||||
1. Concentration coefficient for household taxes
|
2. Gini coefficient of market income
|
3. Ratio of concentration coefficients (1/2)
|
1. Share of taxes of richest decile
|
2. Share of market income of richest decile
|
3. Ratio of shares for richest decile (1/2)
|
|
| United States |
0.59
|
0.46
|
1.28
|
45.1
|
33.5
|
1.35
|
| Ireland |
0.57
|
0.42
|
1.37
|
39.1
|
30.9
|
1.26
|
| Italy |
0.55
|
0.56
|
0.98
|
42.2
|
35.8
|
1.18
|
| Australia |
0.53
|
0.46
|
1.16
|
36.8
|
28.6
|
1.29
|
| United Kingdom |
0.53
|
0.46
|
1.16
|
38.6
|
32.3
|
1.20
|
| New Zealand |
0.50
|
0.47
|
1.05
|
35.9
|
30.3
|
1.19
|
| Canada |
0.49
|
0.44
|
1.13
|
35.8
|
29.3
|
1.22
|
| Netherlands |
0.47
|
0.42
|
1.11
|
35.2
|
27.5
|
1.28
|
| Czech Republic |
0.47
|
0.47
|
0.99
|
34.3
|
29.4
|
1.17
|
| Germany |
0.47
|
0.51
|
0.92
|
31.2
|
29.2
|
1.07
|
| OECD-24 |
0.43
|
0.45
|
0.96
|
31.6
|
28.4
|
1.11
|
| Finland |
0.43
|
0.39
|
1.11
|
32.3
|
26.9
|
1.20
|
| Slovak Republic |
0.42
|
0.46
|
0.92
|
32.0
|
28.0
|
1.14
|
| Luxembourg |
0.42
|
0.45
|
0.92
|
30.3
|
26.4
|
1.15
|
| Belgium |
0.40
|
0.49
|
0.80
|
25.4
|
27.1
|
0.94
|
| Austria |
0.38
|
0.43
|
0.88
|
28.5
|
26.1
|
1.10
|
| Korea |
0.38
|
0.34
|
1.12
|
27.4
|
23.4
|
1.17
|
| Poland |
0.38
|
0.57
|
0.67
|
28.3
|
33.9
|
0.84
|
| Japan |
0.38
|
0.44
|
0.85
|
28.5
|
28.1
|
1.01
|
| Norway |
0.38
|
0.43
|
0.87
|
27.4
|
28.9
|
0.95
|
| France |
0.37
|
0.48
|
0.77
|
28.0
|
25.5
|
1.10
|
| Denmark |
0.35
|
0.42
|
0.84
|
26.2
|
25.7
|
1.02
|
| Sweden |
0.34
|
0.43
|
0.78
|
26.7
|
26.6
|
1.00
|
| Iceland |
0.27
|
0.37
|
0.72
|
21.6
|
24.0
|
0.90
|
| Switzerland |
0.22
|
0.35
|
0.63
|
20.9
|
23.5
|
0.89
|
| Source: Computations based on OECD income distribution questionnaire. | ||||||
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