That's true, but it's worth mentioning that income tax also doesn't seem to be a large portion of most country's GDP. It seems to range between 1% to 14%, except Denmark (25%) which is an outlier. See: https://data.oecd.org/tax/tax-on-personal-income.htm#indicat.... The global average is only 8%!
Another interesting fact is that in the graph for corporate profit, Luxembourg actually has the highest rates, which must be because of its small size and huge number of companies that are registered there to benefit from the countries low tax rate.
Despite this I think corporate should be higher judging how much large multinationals earn. Otherwise the income inequality is only going to grow further.
Another interesting fact is that in the graph for corporate profit, Luxembourg actually has the highest rates, which must be because of its small size and huge number of companies that are registered there to benefit from the countries low tax rate.
Despite this I think corporate should be higher judging how much large multinationals earn. Otherwise the income inequality is only going to grow further.