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Wednesday 21 September 2011

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From: Comicvine




"America is far less inclined than many of its rich-world peers to use taxation and redistribution to reduce inequality. The OECD, a think-tank, reckons that taxation eats up a little less than 30% of the average American’s total compensation, compared with nearly 50% in Germany and France. America’s top federal income-tax rate of 35% is lower than in many other advanced economies (although most Americans also pay state taxes). Britain’s top tax rate is 50%. Swedes and Danes acquiesce to tax rates that would outrage many Americans: Sweden’s top rate is 57% and Denmark’s is 55%. Unsurprisingly, the American state is also less generous to the poor. Unemployment benefits in the United States replace a smaller share of income, and run out more quickly, than in most European countries."— The Economist
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"It’s usually assumed that the reason Americans specifically don’t want to see taxes raised on the rich is because, in spite of driving a defunct GM brand four-door, they think of themselves as the 'soon-to-be rich.' But a paper published in the National Journal of Economic Research in July suggests otherwise. They offer that it’s not hoping to be on top that makes us not want the wealthier to be taxed more – it’s the fear of being at the bottom. It’s referred to as 'last-place aversion.' " — Tina Dupuy, Crooks and Liars
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