3 ms·
Not true. If you read the article, you'll find a graph which shows the fractions of income: https://assets.bwbx.io/images/users/iqjWHBFdfxIU/itOyNXaN9ahY/v1/76
by cperciva 8y ago
Not true.
If you read the article, you'll find a graph which shows the fractions of income: https://assets.bwbx.io/images/users/iqjWHBFdfxIU/itOyNXaN9ahY/v1/760x-1.png https://assets.bwbx.io/images/users/iqjWHBFdfxIU/itOyNXaN9ah...
The top 3% of US taxpayers had a combined ~28% of income. You have to go up to the top ~12% of US taxpayers to accumulate 50% of income.
- danvoell 8y agoWhat % of discretional income did the top 3% have?
- cperciva 8y agoNot sure what you mean by "discretional". Disposable (after-tax) income? Or discretionary income (which depends on where you draw the line for a "basic standard of living)? In either case, this is irrelevant to the fact that getcrunk made a false claim.
- andrewvc 8y agoThe NY times recently ran a story about Jared Kushner paying no, or almost no taxes after showing a loss by using some legal, but creative accounting around depreciation. I've heard the same thing about owners of sports teams. So, when it comes to the 1% it can be hard to measure who's actually in it.
- refurb 8y agoThere is a big difference between cherry picked examples and what happens on average. We’ve all heard of millionaires paying no taxes, yet the top 0.1% pay an effective rate of 36% on average (too lazy to look up source again).
- djrogers 8y agoAsset depreciation is at best a temporary game - for example I racked up depreciation on a rental property, and during the years I did so, I paid less in taxes. When I sold the property I had to account for that depreciation and pay taxes on all of it.