Richest Americans Now Pay Less Tax Than Working Class in Historical First

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Current Events » Richest Americans Now Pay Less Tax Than Working Class in Historical First
In the 1960s, the 400 richest Americans paid more than half of their income in taxes, according to the Times . By 2018, America's wealthiest individuals paid just 23 percent of their income in taxes.
Meanwhile, the bottom half of income earners paid 24 percent of their income in taxes.

https://www.newsweek.com/richest-americans-pay-less-tax-working-class-1897047

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wish america would learn french

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DarthAragorn posted...
wish america would learn french
Didnt a bunch of rich French people leave France because of their tax increase
I'm sure the wealth will start trickling down any day now.

/s
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kage_53 posted...
Didnt a bunch of rich French people leave France because of their tax increase
That ain't the french I'm talking about
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No lollygaggin'.
Will it take social security running out completely to finally tax the rich
So billionaires now pay less than $10-30k in taxes? Wow, that's messed up.
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Count_Drachma posted...
So billionaires now pay less than $10-30k in taxes? Wow, that's messed up.
Chud alt detected
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Count_Drachma posted...
So billionaires now pay less than $10-30k in taxes? Wow, that's messed up.
You missed the point, but also yes:

In 2007, Jeff Bezos, then a multibillionaire and now the worlds richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes.
https://www.propublica.org/article/ the-secret-irs-files-trove- of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax
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DarthAragorn posted...
Chud alt detected
He might be a chud but he's also sadly right. They weren't paying enough in the first place. They're just rubbing it in at this point

And yeah the fact they can borrow against their own company to avoid taxes is absolute bullshit
Axiom posted...
He might be a chud but he's also sadly right. They weren't paying enough in the first place. They're just rubbing it in at this point

And yeah the fact they can borrow against their own company to avoid taxes is absolute bullshit
Don't give him credit for accidentally being right

He was clearly trying to imply that the rich still pay more taxes by dollar amount ignoring that the percentages are pathetic
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Count_Drachma posted...
So billionaires now pay less than $10-30k in taxes? Wow, that's messed up.
You don't know what percentages are do you? This isn't about total money its about percentage of total income.
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DarthAragorn posted...
That ain't the french I'm talking about
I mean he's not wrong that they left, in a manner of speaking.
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Illinois put a graduated income tax on the ballot -> voted down

Chicago put a mansion tax on the ballot which would have lowered the tax on the first $1 million you paid for a house -> voted down

People live vicariously thru rich or celebrities? Or think what they tell you is more reliable?
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DarthAragorn posted...
He was clearly trying to imply that the rich still pay more taxes by dollar amount ignoring that the percentages are pathetic
He's right though in the context of the article. The topic title is just not worded particularly well.
The rich are going to drive the impoverished working and middle class to the point where they'll need to literally eat the rich in order to have food in their bellies.

How obscene it is to live in this reality.
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Current Events » Richest Americans Now Pay Less Tax Than Working Class in Historical First