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From what I've read the uber wealthy pay an effective tax rate of ~10%. US voters and legislators have set our top tax brackets at ~40%. What is a fair tax rat
by rgifford 5y ago
From what I've read the uber wealthy pay an effective tax rate of ~10%. US voters and legislators have set our top tax brackets at ~40%.
What is a fair tax rate? I don't know. Less is more IMO.
But by the terms we've all agreed on, the uber wealthy skimp by ~3/4.
- visarga 5y agoMoney you need to spend is different from money you can save or invest. That's why they can do it.
- rgifford 5y agoMost Americans don't have money to save or invest. Capital gains functionally rewrites tax brackets. There's lots of ways to make sure that people so rich they don't have to wage earn pay their fair share. We choose not to.
- AlchemistCamp 5y agoAnother important consideration, is that the complexity of a tax system is itself a regressive tax. If hiring an accountant can decrease the amount of tax you need to pay, the tax rate is effectively higher for those who can afford an accountant than for those who can't.