Taxes paid by billionaires have decreased 79% since 1980.

[Mathguy]

Originally Posted by DorianRo

If dems control everything, the rich will be taxed to hell as they should be. They have had it way to easy with Trump in power and we have to lower the debt somehow.


A biden presidency is only going to work if the dems control the House and Senate

Huh? The Biden Vice Presidency had that for 2 years, so did they hammer the rich?

I asked if you would delete your account if the Dems controlling the house, senate and presidency yet didn't raise taxes significantly on the rich.

You, answered the question like Trump.

So, let me ask it again...what is your response? Seems like you like the rhetoric but deep down can't admit that your own party isn't all that different from the Republicans.

[BoBromhal]

since so many like to link to businessinsider for some reason, I can't access more free articles.

I'd like to know where this "taxes paid have decreased 79% since 1980" comes from.

Income tax receipts are up nearly every single year since 1980.

https://taxfoundation.org/federal-ta...urce-1934-2018

in fact, the low of the Great Recession in 2010 was ABOVE 2004 receipts and barely below (3%) 2005.

And this chart shows the top 1% paying an ever-larger share of the tax:

https://www.ntu.org/foundation/tax-p...s-income-taxes

so, if the tax received is increasing, and their share since 1980 is increasing, how are they paying 79% less?

[jonbenson]

TOPIC:
Taxes paid by billionaires have decreased 79% since 1980.

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SOURCES:

1)


https://inequality.org/wp-content/up...pril9-2020.pdf

The Case for a U.S. Wealth Tax
Bob Lord
the Institute for Policy Studies

Tax Policy and Wealth Accumulation Since 1980
Recent studies by Emmanuel Saez and Gabriel Zucman shine a light on how the taxation of
Americans has evolved over the past four decades. Saez and Zucman have considered all taxes
in their calculations: income taxes, consumption taxes, property taxes, employment taxes,
payroll taxes, estate taxes, and corporate taxes.

2)

https://gabriel-zucman.eu/files/Zucman2019.pdf

Annual Review of Economics
Global Wealth Inequality
Gabriel Zucman
1Department of Economics, University of California, Berkeley, California 94720, USA;
email: zucman@berkeley.edu
2National Bureau of Economic Research, Cambridge, MA 02138, USA

_________________________________

(documents are public at https://ips-dc.org )