LogFAQs > #928825586

Godnorgosh posted...

Last year billionaires paid less in taxes than the working class. That was the conclusion of the study. What about that was wrong?

Everything. I've pointed this out multiple times since that study came out.

1. Saez and Zucman have not released the figures or methodology for this "study". They gave their data to the media who are reporting it as fact, as they usually do.

2. Their estimates of wealth concentration and tax burdens are at odds with all other data we have on the subject, like the CBO's figures.

3. Most of that existing data is a few years old for a reason, it uses official statistics. Saez and Zucman have somehow produced tax estimates for a year in which we don't even have official income tax statistics yet.

4. Most bizarrely they omitted the EITC, even though the entire reason it exists is to offset regressive taxation like the payroll tax. Of course the tax system is going to appear more regressive than it is when you totally exclude refundable credits aimed at helping lower-income people. When you include transfers AND taxes things look a little different though, don't they?