BILLIONAIRES VS. THE MIDDLE CLASS: WHO PAYS MORE IN TAXES?
https://s.yimg.com/ny/api/res/1.2/pJprqtYEjbHsMltwv.XEeQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD02NzU-/https://media.zenfs.com/en/gobankingrates_644/a6b9a379641d3efe746486c1d99e7474
✍️ The article discusses the tax burden on the wealthy in the US, highlighting that despite President Trump's claims, the top 1% of earners have not been paying a significantly lower tax rate than the middle class.
👉 The top 1% of Americans today do not face an unusually low tax burden, by historical standards. 👉 The top 0.1% of households faced average effective income tax rates of 21% in the 1950s, compared to 20.7% in 2014. 👉 The top 1% of earners paid 40.4% of all federal income taxes in 2022. 👉 The TCJA has benefited the ultra-rich, with the top 0.1% paying an average effective tax rate of 23% in 2018. 👉 The TCJA has led to a regressive tax system, where the wealthiest Americans pay a lower rate than other household groups.
-- #Saez #Zucman #Trump #WarrenBuffet #HowardGleckman #politics
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