So this is suggesting that basically all middle income earners will at least have one year or more at or above 100k salary. Seem really unlikely without some extraneous outside income unless IтАЩm missing somethingтАж
Not only in the USA. its pretty much anti-meritocratic to rely more income taxes (which is a product of YOUR production capacity) than inheritance/donation taxes.
Is the one year thing due to inheritance?
no. that would not show up in this data.
So this is suggesting that basically all middle income earners will at least have one year or more at or above 100k salary. Seem really unlikely without some extraneous outside income unless IтАЩm missing somethingтАж
Please note that this is across all the living population, and normalized to 2020s 100k.
If you consider that people that were blue collar workers had it pretty good before the Jack Welch's 80s, this looks a lot more plausible.
The US indeed used to have a pretty robust middle class.
Inherited wealth is a one big elephant in the USAтАЩs living room. Tax those fтАЩers.
Not only in the USA. its pretty much anti-meritocratic to rely more income taxes (which is a product of YOUR production capacity) than inheritance/donation taxes.