Ok, let's talk traditional tax rates--taxes over income.
We got the tax returns & measured the effective tax rate for the top 25 richest Americans.
Remember, here's how our tax system is supposed to work: the more income you have, the higher percentage you pay.
Does it?
We got the tax returns & measured the effective tax rate for the top 25 richest Americans.
Remember, here's how our tax system is supposed to work: the more income you have, the higher percentage you pay.
Does it?
People making btn $2-$5 million pay the highest, at 27.5%.
Then: Effective rates start falling!
The top slice measured by the IRS, abt 1400 people, pays about 23%.
& the top 25 billionaires? They pay just 15.8%.
That's actually more than a single person making just $45K/year.
Then: Effective rates start falling!
The top slice measured by the IRS, abt 1400 people, pays about 23%.
& the top 25 billionaires? They pay just 15.8%.
That's actually more than a single person making just $45K/year.
Here's are the details: propublica.org/article/you-ma…
Our main story is about what we consider more important: Taxes over Wealth growth.
propublica.org/article/the-se…
But for the wonks and the folks who are telling us that unrealized gains don't count for taxes (actually, we know that), this is for you.
propublica.org/article/the-se…
But for the wonks and the folks who are telling us that unrealized gains don't count for taxes (actually, we know that), this is for you.
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