3 ms·
Good one. I do hope people recognize that homeless people constitute less than 1% of Americans. By contrast 60% of tax returns filed by Americans have negative
by wang_li 5y ago
Good one. I do hope people recognize that homeless people constitute less than 1% of Americans. By contrast 60% of tax returns filed by Americans have negative net tax rates. They literally contribute nothing to the running of the Federal government, and for about 40% they contribute nothing to all other levels of government.
This story is about how the very few extremely high earners use sophisticated personal finance strategies to minimize their tax burden. On the other hand huge numbers of people use the unsophisticated strategy of not developing any significant skills or education and not earning much money resulting in not paying any net taxes. Not talking about the super poor who earn nothing, but people who earn $30,000-$60,000/year. At the end of the day, they are not net tax payers.