Originally Posted by
Krugminator2
The US has the most steeply progressive income tax system in the Western world. Top income earners not only pay an unfairly disproportionate amount of income taxes but pay a disproportionate amount and higher rate even when you factor in payroll taxes which affect lower income earners the most (though they shouldn't be included because they are forced savings people get back) and when you factor in the lower rate on capital gains and dividends.
https://abcnews.go.com/blogs/busines...ary-talk-taxes
In a week when taxes and tax returns have dominated the headlines, billionaire investor Warren Buffett jumped back into the political debate and showed his returns exclusively to ABC News' Bianna Golodryga, adding, "I have never had it so good. … What has happened in recent years, we were told a rising tide would lift all boats, but the rising tide has lifted all yachts."
Buffett's secretary since 1993, Debbie Bosanek, sat next to her boss just hours after being invited by the president to the State of the Union address, where the president made her the face of tax inequality in America.
Bosanek pays a tax rate of 35.8 percent of income, while Buffett pays a rate at 17.4 percent.
"I just feel like an average citizen. I represent the average citizen who needs a voice," said Bosanek. "Everybody in our office is paying a higher tax rate than Warren."
The reason people think "the rich" pay a lower rate is by citing sources that count unrealized capital gains as if they are income. That's it. No tax tricks. No loop holes. No secret offshore accounts. Just simply acting as if having an ownership stake in a business that increases in value over time is income.
"Rich" people who pay higher tax rates than Donald Trump and Warren Buffet are stupid.
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