Are Social Security taxes regressive?
A common argument debunked
By The Economist | NEW YORK
LOOMIMG deficits and tomorrow's tax deadline have sparked some interesting discussion on who's paying what. The underlying question: How progressive is the American tax code? The CBO released a summary of the history of effective tax rates illustrating that the US code is quite progressive. They consider effective tax rates—the taxes you pay after all your deductions. They even found the bottom two quintiles face a negative individual effective income tax (that does not include payroll tax).
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