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AVERAGE household wealth: 448.2 k$
Notice the MEDIAN is 93.1. The average is highly scewed the the top few percent of households. Only the top 20% of houses, by wealth, have above-average income (strange, eh?). This is because nobody but the top 10% of households in the USA has any significant amounts of wealth.
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Perhaps this should read "reported income".
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So, note that a wealth-based tax, even if it was completely non-progressive in percentages, would be significantly more progressive than the current income tax.
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I suspect we will never see our polititians advocate taxing wealth. As I understand it most of them dramatically increase their net worth during and after holding office. I wonder how hard it is to hide wealth as opposed to taxable income to escape taxation?
Also I believe the middle class and poor pay a much higher percentage of their income in taxes than the wealthy since most of the taxes in the distribution chain are passed down to them and reflected in the final price of goods and services, and they spend most of what they make purchasing them.