40% on income from labour shows: dont get income from labour! Small percent on income from property (dividents, etc) show that that's the best place to get money from. Almost zero percent on pollution signals: go for it!
40% on income from labour shows: dont get income from labour! Small percent on income from property (dividents, etc) show that that's the best place to get money from. Almost zero percent on pollution signals: go for it!
Similarly, the incidence of things like the employer half of FICA is somewhat split between the employer and the employee (in the form of lower salary for the latter). Here, as I understand it, the general consensus is that the incidence falls mostly on the employee, except in cases of binding constraints like the minimum wage.
https://www.irs.com/articles/2020-federal-tax-rates-brackets...
If you’re adding state taxes, note that the linked article is discussing federal income taxes only. Even then, including state taxes does not get you to 40% for 99% of people.