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I'm guessing this will be disputed, but since it was just in the news this week....

https://www.cbsnews.com/news/americ...s-pay-a-lower-tax-rate-than-the-middle-class/

  • The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.
  • Factoring in federal, state and local taxes, those ultra-wealthy households pay a total rate of about 23% — that compares with just over 24% for the bottom half of households.
  • The U.S. now "looks like the tax system of a plutocracy," Saez and Zucman say.
 
I'm guessing this will be disputed, but since it was just in the news this week....

https://www.cbsnews.com/news/americ...s-pay-a-lower-tax-rate-than-the-middle-class/

  • The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.
  • Factoring in federal, state and local taxes, those ultra-wealthy households pay a total rate of about 23% — that compares with just over 24% for the bottom half of households.
  • The U.S. now "looks like the tax system of a plutocracy," Saez and Zucman say.

I saw this on TV the other day.
In 1960 the 400 richest families paid something like 53% total tax rate. In 1987 they paid like 43% total tax rate.
Now it's 23%. And on top of that the gap between those ultra rich and everyone else is bigger than ever.
Such BS.

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I'm guessing this will be disputed, but since it was just in the news this week....

https://www.cbsnews.com/news/americ...s-pay-a-lower-tax-rate-than-the-middle-class/

  • The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.
  • Factoring in federal, state and local taxes, those ultra-wealthy households pay a total rate of about 23% — that compares with just over 24% for the bottom half of households.
  • The U.S. now "looks like the tax system of a plutocracy," Saez and Zucman say.

No one looking at the reported numbers will dispute any of it.
 
  • Like
Reactions: Red
I'm guessing this will be disputed, but since it was just in the news this week....

https://www.cbsnews.com/news/americ...s-pay-a-lower-tax-rate-than-the-middle-class/

  • The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.
  • Factoring in federal, state and local taxes, those ultra-wealthy households pay a total rate of about 23% — that compares with just over 24% for the bottom half of households.
  • The U.S. now "looks like the tax system of a plutocracy," Saez and Zucman say.
Pluto's a planet bitch!
 
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