Spain and Brazil push global action to tax the super-rich and curb inequality

Considering how everything is rigged in favor for the rich I don't have high hopes for this. But it would be great if they really come up with a system that makes sense and offers equal tax regimes for everybody. Right now if I'm not mistaken in Spain the most taxed people (in terms of ratio) are those who earn < ~300K per year.

> Right now if I'm not mistaken in Spain the most taxed people (in terms of ratio) are those who earn < ~300K per year.

You are mistaken. Currently, the higher income you have here, the higher tax rate you have, where the highest tax rate on income sits at 47%, which you get hit by when your income is above 300K/year. People between 60K and 300K sits at 45%.

And then there are regional differences, someone in Andalucía don't pay the same amount of taxes as someone who lives in Catalunya for example, where the top tax rate is 50%.

Even taking into account other taxes we have, you still end up paying more in taxes the more you earn, unless you start engaging in schemes to lessen your tax burden, obviously. Although the social security is capped, so it does increase slower once you go beyond the cap, but it doesn't start regressing which your comment hinted at.

Edit: important to note that the tax rates are all marginal tax rates, maybe that was a bit unclear.

Wow, a 45% tax starting at 60k is kinda unreal.

Why is that? Sure, not all of it goes directly to people who need it, but I generally feel fine paying that amount of taxes, because I myself got helped by others paying taxes when I was dirt-poor but still needed to go to the hospital.

If/once you reach that point (+60K/year), you already live a above-average life, why not share some of that with others who aren't as good/lucky as yourself? Seems like a no-brainer to me, but I might be too European to really grasp the problem.

It's a remarkably high rate for people accustomed to progressive tax systems with a sharper curve.

It's not hard for tech workers to start hitting top rates similar or higher than that in the US if you're in a high tax state, but at 60k you're more likely to top out at 39%, but because the curve is so steep the average (actual percentage of income) tax is only something like 22%. That includes extras like social security and Medicare.

Living in a state without any income tax will further lower those numbers.

> Living in a state without any income tax will further lower those numbers.

Sure, but how well are those without income supported in those states? Can they live a comfortable life even if they're unable to work? Can they go to the hospital and do life-saving surgeries without being in debt for the rest of their lives? Are there enough libraries and beyond-school activities everyone could use for free, regardless of income?

Once you hit those rates, I feel like you should stop thinking about how you can pay less in taxes, and figure out how you can support everyone else around you, otherwise what's the point of earning all that money in the first place?