the richest 25 Americans have an average tax rate of 15.8% (illegal, highway, military)
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First, you STILL haven't told me what "rich" is in your mind.
Second, our tax system is progressive, meaning the more you make, the more you pay.
HOWEVER, there are other ways to have a lot of wealth which are not subject to taxes. There are also tax incentives for certain businesses, charitable writeoffs, etc.
Do you understand that? It's not just black and white "Rich people pay no taxes." You're being manipulated.
Yep! And the Democratic Party is doing it's damnedest to recruit and indoctrinate millions of suckers just like the OP.
t's a sad day when one of the goals of many participants in the political process is the production and dissemination of economic ignorance.
The point is, my income tax rate is very high, so I'm not "one of those rich men"
Here's a summary of the 2021 tax season:
The top 1 percent of taxpayers paid roughly $615 billion, or 40.1 percent of all income taxes, while the bottom 90 percent paid about $440 billion, or 28.6 percent of all income taxes.
The top 1 percent of taxpayers paid roughly $615 billion, or 40.1 percent of all income taxes, while the bottom 90 percent paid about $440 billion, or 28.6 percent of all income taxes.
*Sigh* the old "the rich don't pay income taxes" canard.
9 times out of 10 these analyses are bogus for either or both of two main reasons: 1) they only factor the income but don't factor the losses ("OMG he made 5 million dollars but paid no income taxes!" Yeah, that's because his losses that year were 7 million), or 2) they count unrealized gains ("OMG, Joe Plutocrat made 3 billion dollars on his stock this year!" No he didn't because he didn't cash any of it).
To say nothing of the millions of other ways they pay taxes as noted elsewhere upthread.
Apparently they make the rules.
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Amazon founder Jeff Bezos paid no income tax in 2007 and 2011. Tesla founder Elon Musk’s income tax bill came to zero in 2018. And financier George Soros went three straight years without paying federal income tax, according to a report out Tuesday from the nonprofit investigative journalism organization ProPublica.
Overall, the richest 25 Americans pay less in tax— an average of 15.8% of adjusted gross income — than many ordinary workers do, once you include taxes for Social Security and Medicare, ProPublica found.
*Sigh* the old "the rich don't pay income taxes" canard.
9 times out of 10 these analyses are bogus for either or both of two main reasons: 1) they only factor the income but don't factor the losses ("OMG he made 5 million dollars but paid no income taxes!" Yeah, that's because his losses that year were 7 million), or 2) they count unrealized gains ("OMG, Joe Plutocrat made 3 billion dollars on his stock this year!" No he didn't because he didn't cash any of it).
To say nothing of the millions of other ways they pay taxes as noted elsewhere upthread.
Nice spinning, but this time it is because some people's tax information was leaked.
the richest 25 Americans have an average tax rate of 15.8%
Oh well. I couldn't care less. Actually, these people should be charged exactly the cost of the services they are provided from the government. I'm pretty sure that would be far, far less than they pay now.
Because if they pay less, you have to pay more. (Given a budget)
Isn't it kindergarten math?
Ummm...no.
Just because that's the way Dems want to tax people doesn't mean that's how it works.
Adjust your budget downward instead of rubber-stamp increasing it every year to pay for illegal aliens and sending pallet fulls of cash to countries that hate us.
And don't even pretend for one second that if you raise Jeff Bezos's taxes that you'll lower mine.
I'm not in the market for bridges or swampland.
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