International | Soaked The Robin Hood state is coming for the rich Tax systems are more progressive than you think Share Illustration: Kyle Ellingson Feb 16th 2026 | San Francisco | 14 min read I T IS NO secret that inequality grew in much of the rich world in the 1980s and 1990s and has remained relatively high since. In 1980 the top 1% of Americans commanded 9% of pre-tax income, rising to 16% by 2022. Over the same period Europe’s top 1% increased their share from 8% to 12%. In fact, the increase in earnings inequality and its corollary, the stagnation of middle-class incomes, has been so noticeable and so widespread that it is often posited as a possible explanation for the rise of populism around the world. This article appeared in the International section of the print edition under the headline “The Robin Hood state” From the February 21st 2026 edition Discover stories from this section and more in the list of contents ⇒ Explore the edition Share Reuse this content More from International The Telegram A stay-calm plan to save the world Alas, almost no foreign leader is as reasonable as Finland’s president, Alexander Stubb The War Room newsletter: What is Donald Trump’s aim for Iran? Shashank Joshi, our defence editor, analyses the president’s options The Telegram Donald Trump’s envoys failed to reassure Europe A gathering of world leaders in Munich shows how trust has collapsed Inside Jeffrey Epstein’s network What 1. 4m emails reveal about America’s most notorious sex offender The Telegram Are liberal values a luxury the West cannot afford? Yes, China has impressive high-speed trains. That is no reason for the West to adopt iron-fisted rule The Telegram Anger is deadly to moderate politicians AI-driven disruption is about to make the world a more resentful place

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