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The top 1% tend to have significant income that is not wage based. The rich pay less as a percentage thanks to long term capital gains being taxed at 20%. Note
by uberman 7y ago
The top 1% tend to have significant income that is not wage based. The rich pay less as a percentage thanks to long term capital gains being taxed at 20%.
Note, the truly rich would consider anyone (no matter how much they make) as a poor wage slave if their primary source of income was wage based.
- darawk 7y agoCapital gains are included in these numbers. Source: https://www.cbo.gov/system/files/2019-07/55413-CBO-distribution-of-household-income-2016.pdf https://www.cbo.gov/system/files/2019-07/55413-CBO-distribut... ctrl+f "Definitions"