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How Governments Are Increasingly Taxing the Wealthy More Heavily
Summary
Contrary to popular belief, tax systems around the world have become more progressive, placing a greater financial burden on the wealthy. Governments are employing various measures
Contrary to popular belief, tax systems around the world have become more progressive, placing a greater financial burden on the wealthy. Governments are employing various measures to ensure that high earners contribute a larger share of their income, reflecting a shift towards reducing income inequality. This trend is evident in rising top marginal tax rates and the introduction of special levies targeting the rich.
These adjustments demonstrate a growing commitment by policymakers to balance fiscal needs with fairness, as they seek to fund public services and social programs. While debates about tax fairness continue, data suggests that affluent individuals are now paying a more substantial portion of total tax revenue than in previous decades.
As reported by The Economist.
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