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"We compared how much in taxes the 25 richest Americans paid each year to how much Forbes estimated their wealth grew in that same time period." That's not how
by Cantinflas 5y ago
"We compared how much in taxes the 25 richest Americans paid each year to how much Forbes estimated their wealth grew in that same time period."
That's not how income tax is calculated, the whole article doesn't make any sense at all
- andrepd 5y ago> That's not how income tax is calculated, Yes, and that's the problem (one of the problems).
- blunte 5y agoIt’s just one way to attempt to compare since wealthy people typically don’t have “income” like normal workers do. It is an imperfect approach, but it does at least give some way of comparing.
- lazyjones 5y agoIt would be a valid comparison if it was compared to the average person's wealth increase (e.g. the value of their house, 401k) vs. their income taxes.
- deleted 5y ago[deleted]
- jon-wood 5y agoIt is.
- AnimalMuppet 5y agoInteresting point. Yeah, my house went up last year, and so did my 401k, and I didn't pay any tax on either one. So do people have a problem with that? If not, then it's kind of hypocrisy to have a problem with it when it happens to a billionaire, but not have a problem with it when it happens to you and me...