The latest numbers on 2014 taxes as share of income are out, and they’re saying pretty the same thing as last year:
Above about $80K a year in income, the American tax system is not really progressive. Like, at all:
The people making $100K a year pay about the same share of income at people making $10 million a year.
This is because — while federal income taxes are reasonably progressive — payroll, state, and local taxes are horribly regressive — particularly in (blush) my home state:
Read it and weep.
Cross-posted at Asymptosis.