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50.7% for income over $518,400. The effective income tax rate for everyone but billionaires is far below that.
by chickenpotpie 5y ago
50.7% for income over $518,400. The effective income tax rate for everyone but billionaires is far below that.
- kevinventullo 5y agoThere are three orders of magnitude between the number you quoted and one billion. Also note that at the billionaire scale, there are cost effective ways to avoid taxes such that one’s effective rate is less than that of a typical hundred-thousandaire.