Reply To: The IMF Proposes A 10% Supertax On All Eurozone Household Savings

[quiritus]

ilargi:
from fiscal monitor pag 34: “Tax systems around the world have become steadily less progressive since the early 1980s. They now
rely more on indirect taxes, which are generally less
progressive than direct taxes, and within the latter, the
progressivity of the personal income tax has declined,
reflecting most notably steep cuts in top marginal tax
rates”…”The backdrop to the debate is a marked increase in
income inequality in many countries over the last few
decades and a spectacular increase in the income share
of the top 1 percent in particular, especially in the
Anglo-Saxon world”…”it is notable that those
countries with the largest reductions in the top marginal
income rate have experienced the greatest increase
in inequality”…pag 36: “The implied revenue gain if top
rates on only the top 1 percent were returned to their
levels in the 1980s averages about 0.20 percent of
GDP (Figure 18), but the gain could in some cases,
such as that of the United States, be more significant.” pag 39 “Based on Luxembourg Wealth Study data, a 1 percent tax on the net wealth of the top 10 percent of households could, in principle, raise about 1 percent of GDP per year”