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I'm not the most well versed but it doesn't look like that says anything about "income" that is derived from capital gains. For instance Warren Buffet has remar
by plandis 11y ago
I'm not the most well versed but it doesn't look like that says anything about "income" that is derived from capital gains. For instance Warren Buffet has remarked that his effective tax rate is actually around 17.4%.
- yummyfajitas 11y agoCapital gains is personal income. So yes, it almost certainly does. Additionally, that figure (much like Warren Buffer) understates what the rich pay - first the corporation they own pays taxes, then they pay taxes again when the profit is distributed to shareholders. It's a misrepresentation equivalent to claiming that middle class folks don't pay the employer portion of payroll taxes.