▲ | amiga386 18 hours ago | |
This has something of a muddied and confusing analogy. If you buy Walmart groceries with cash (whether in an invisibility suit or not), VAT is priced into the goods and Walmart is declaring every penny of goods sold to the tax man without having to track who bought them. Also, in terms of government focus, it gets most of its tax revenue from high earners - "the 1%" pay 45.8% of US taxes. The top 10% pay 75.8% of US taxes. These high earners make most of their money through ownership rather than labour, and ownership inherently has a paper trail; stable government and rule of law guarantees the legitimacy of their ownership claims. How much do they think is missing from unreported income, compared to how much is missing because US corporations hold their earnings in offshore accounts? | ||
▲ | dmoy 18 hours ago | parent [-] | |
> Also, in terms of government focus, it gets most of its tax revenue from high earners - "the 1%" pay 45.8% of US taxes. The top 10% pay 75.8% of US taxes. 45.8% of US Federal Income Tax, which is only 57% of the total tax paid by individuals to the feds (the other 43% is FICA). And it gets even muddier if you include sales tax, property tax, etc (which is paid to government, just not federal government) |