Comment by jdasdf
4 hours ago
> The big flaw in his argument is that a mere 1% which is actually 20% of annual return is still less than the average income tax rate on workers
This is untrue btw
50% of people in the US pay effectively no net taxes
4 hours ago
> The big flaw in his argument is that a mere 1% which is actually 20% of annual return is still less than the average income tax rate on workers
This is untrue btw
50% of people in the US pay effectively no net taxes
No net income taxes.
They still pay payroll taxes, state taxes, sales taxes, and various other state or local taxes and fees.
Right, the overall tax burden is closer to flat.
https://itep.org/fairness-matters-chart-book-on-who-pays-sta...
> 50% of people in the US pay effectively no net taxes
Billionaires included, defence contracts and corporate subsidies count just as much as food stamps.
Or put another way, are subsidized by others.
Or put another way, they already make so little money it isn't worth taking any from them.