Source: Libertarian Institute
by Thomas Eddlem
“Establishment Democrats have long whined that working people pay a higher rate of combined income and payroll taxes than billionaires. They’re not wrong. Income from labor is taxed three times (payroll taxes, income taxes, and inflation) while income from capital is taxed only once (capital gains). In America today, capital gains tax is capped at 20%, but labor’s floor is 15.3% with a payroll tax, plus the 3-8% inflation tax, both of which start at dollar one. Add the income tax, which tops out at 39%, and labor is generally taxed at twice the rate of capital. … The Democratic Party’s solution? ‘Tax the rich,’ as if that would put more of the workers’ own money back in their pockets.” (03/03/25)
https://libertarianinstitute.org/articles/plutocratic-americas-war-on-the-working-class