Mises on prosperity and inequality

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The supply-side economics of JFK

Whose workers paid most in income tax and social security contributions?

The great divergence in average and marginal tax rates in New Zealand since 2000

21% would have been a good guess of the average and marginal tax rates of the New Zealand single earner or couple including with children and even a second earner in 2001. New Zealand average and marginal tax rates have been on a wild ride since the year 2000.

Sources: OECD StatExtract and OECD Taxing Wages.

As the above chart shows, while the average tax rate of a single earner with no children is pretty much unchanged at about 20%, he now faces a marginal tax rate of 30% or more rather than 21% in 2001.

For a married couple with one income, as the above chart shows, their average tax rate has been about zero for a good 10 years now but their net marginal tax rate is a good 50% or more because of abatement rates on family tax credits, which is a skewed incentive situation. A large income effect from the family tax credit encourages the consumption of leisure but a high marginal tax rate discourages working more.

Sources: OECD StatExtract and OECD Taxing Wages.

For two earner couples, their average tax rates have fallen because of family tax credits but their marginal tax rates have gone through the roof as the above chart shows. A tax system that discourages quite severely any further work or investment in human capital by average earners may have adverse effects on the long-term trend growth rate of New Zealand.

The taxes paid by the rich, middle-class and the poorer in the USA

The tax rates of the top 1%

James Bartholomew introduces his new book, ‘The Welfare of Nations’.

Trigger warning for the Twitter Left

Taxes on minimum wage earners across the OECD area

Tax revenues as a percentage of GDP, selected OECD member countries

Gary Becker and Kevin Murphy on inequality and growth in living standards

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The average worker doesn’t pay much in income taxes in New Zealand. Then who does?

via A Comparison of the Tax Burden on Labor in the OECD | Tax Foundation.

Poverty traps in America

Child poverty certainly didn’t go up after the 1996 federal welfare reforms

Relatively few work long hours in the Nordic countries!

https://www.facebook.com/theOECD/photos/pb.73290362460.-2207520000.1433410812./10152716548647461/?type=3&src=https%3A%2F%2Ffbcdn-sphotos-g-a.akamaihd.net%2Fhphotos-ak-xpt1%2Ft31.0-8%2F11160071_10152716548647461_9196406047786333903_o.png&smallsrc=https%3A%2F%2Ffbcdn-sphotos-g-a.akamaihd.net%2Fhphotos-ak-xpa1%2Fv%2Ft1.0-9%2F11179957_10152716548647461_9196406047786333903_n.png%3Foh%3D0d78f11e4d8a148c1f5030bacea4d84b%26oe%3D55FEF7BE%26__gda__%3D1441940392_f386d1cd38462c8a398c2aa1a9ef88a0&size=978%2C925&fbid=10152716548647461

 

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