January 16, 2020

The Colorado Sun: Colorado progressives have a new target in their pursuit of a tax overhaul: the rich. Here’s why.

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More progressive taxes aren’t a panacea for income inequality, either. With a top rate of 12.3%, plus a 1% millionaire tax, California has the most progressive tax code in the country, according to the left-leaning Institute on Taxation and Economic Policy. It is also the seventh most unequal, with the wealthiest 1% making 30 times the average income of the other 99%, according to EPI. (Colorado ranks 16th in progressiveness and 20th in inequality, by the same metrics, with the wealthiest 1% earning around $1.3 million on average. That’s 21 times more income than the bottom 99% make on average.) Read more



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