Saturday, April 30, 2011

The Social Security Tax Is Progressive

See The Truth About Taxes and the Rich by Veronique de Rugy. Once you take into account benefits recieved, it is progressive. She has a table at the end that shows the net tax for each quintile.

Starting from the bottom:

20% -12.7%
40% -10.4%
60% -2.6%
80% 1.4%
100% 1.8%

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