Taxing the rich - a global agenda?

Rising income inequality prompts a global push to tax the rich more heavily.

Ed’s note: Our friends at Barrons have been among the first to notice and quantify the shifting tax landscape which puts more onus on the richer elements of society to pay tax: The economics of the equation are relatively simple…growing inequality of income increases pressure on governments to raise revenues from the strata of society with the highest income.  The US, for decades the country most noted for relatively light taxes on high income earners,  has been steadily lifting its tax take from the wealthy.  Though it should be noted the level at which the top tax bands kicks in within the US tax system remains remarkably high ie 39.6% on income in excess of $450,000 for married couples. In Australia the top tax rate of 45% kicks in at a much lower $180,000.

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