To what extent do US
federal taxes redistribute wealth? That’s a question that comes up
because “redistribution” is a hot word in American politics at the
moment.
Republicans in recent days have been brandishing a newly released 1998 tape on which then-state Sen. Barack Obama of Illinois endorses the concept of government redistributing wealth from one group to another.
“I actually believe in redistribution, at least at a certain level, to make sure that everybody’s got a shot,” says Mr. Obama on the 14-year old recording.
Yes, the GOP is pushing this to counter that video of Mitt Romney saying that 47 percent of Americans believe they are “victims” entitled to government aid. Yes, as our colleague Liz Marlantes notes, Mr. Romney supports some level of redistribution himself – unless he wants to end Medicare, Medicaid, Social Security, and other transfer programs, as well as progressive taxation.
Still, we thought we’d take a look at the tax system itself to see what level of redistribution it contains as a means of beginning to explore how this concept works in the American political system.
In July, the Congressional Budget Office released a study that looks at this issue pretty thoroughly up through 2009, the latest year for which comprehensive tax data are available.
Republicans in recent days have been brandishing a newly released 1998 tape on which then-state Sen. Barack Obama of Illinois endorses the concept of government redistributing wealth from one group to another.
“I actually believe in redistribution, at least at a certain level, to make sure that everybody’s got a shot,” says Mr. Obama on the 14-year old recording.
Yes, the GOP is pushing this to counter that video of Mitt Romney saying that 47 percent of Americans believe they are “victims” entitled to government aid. Yes, as our colleague Liz Marlantes notes, Mr. Romney supports some level of redistribution himself – unless he wants to end Medicare, Medicaid, Social Security, and other transfer programs, as well as progressive taxation.
Still, we thought we’d take a look at the tax system itself to see what level of redistribution it contains as a means of beginning to explore how this concept works in the American political system.
In July, the Congressional Budget Office released a study that looks at this issue pretty thoroughly up through 2009, the latest year for which comprehensive tax data are available.
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