And how The People claim your Worth.
Progressive Tax Policy. When an event such as an Apparently Benevolent Global Pandemic decreases Personal Income by $10,000 then 46,459,531 people would move from their expected Tax Bracket down to the adjacent lower Tax Bracket. The result would cause a decrease in income tax revenues from $1,700,000,000,016 to $1,517,470,184,255. Federal Governments try to "bailout" State and Municipal governments, and provide income support for people. For themselves, they increase bond sales and occasionally debase their currency.
Tax Source | Proportion of Tax Revenue |
Income | 0.459680992 |
Corporate | 0.119933422 |
Social Insurance and Retirement Receipts | 0.321357912 |
Excise Taxes | 0.050048315 |
Other | 0.048979583 |
As is visible in the picture below, tax revenue is dependent on not only the direction of accounting law but also the fluctuations of the economy. Taxes will be close to 29% of Income plus Wages given expected performance of laws.
How the revenues of governments and corporations are effected by regular economic depressions instead of Contract and Financial fraud is difficult to seperate. Under these circumstances (2021-03-20) a corporate profit of $2,701,958,636,993 would give $325,000,000,000 of corporate taxes. However, due to the nature of reduced economic activity and accounting rules, a $1 decrease in corporate profits does not create $0.12 of decreased corporate tax revenue as one could expect. According to a White House Budget corporate taxes are the most gifted by tax law and are currently decreasing about $0.45 per $1 of decreased corporate profits.
A dollar passes between 5 and 6 people before tax has brought the value of that dollar to zero; the realization of Tax Withholding. Zero until it is spent again from the taxing authority. The money does not belong to The People but The People have legislated promise of money delivery during all conditions.
Debt, credit, and tax law have all been shaped by the increased importance of Equity and Stock Markets on people's perceived wealth and retirement compared to the homesteads and fixed income pension security of the past.