A new report found that America’s top billionaires paid very little income tax despite tremendous gains in their wealth.
The Republican tax plan would ultimately make the current system less progressive while reducing the overall burden, two things research shows make countries less happy.
The administration wants to cut the tax rate on so-called pass-through entities, which is likely to lead to creative tax planning and outright evasion, damaging faith in the system.
The AiGroup’s Innes Willox told Q&A that Australia has one of the highest progressive tax rates in the developed world. Is that true?