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"conflating wealth with income" The author(s) explicitly do NOT conflate these and point that out several times.
by kylestlb 5y ago
"conflating wealth with income"
The author(s) explicitly do NOT conflate these and point that out several times.
- hnburnsy 5y agoThe authors conflated right here... "The results are stark. According to Forbes, those 25 people saw their worth rise a collective $401 billion from 2014 to 2018. They paid a total of $13.6 billion in federal income taxes in those five years, the IRS data shows. That’s a staggering sum, but it amounts to a true tax rate of only 3.4%." Income taxes paid divided by increase in net worth, how is this NOT conflating? No one's definition of 'true tax rate' is calculated this way.