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Is this just income taxes? Excluding capital gains and estate taxes (when they pass)? If so then this is not surprising. Most of the wealthiest people derive th
by Manuel_D 5y ago
Is this just income taxes? Excluding capital gains and estate taxes (when they pass)? If so then this is not surprising. Most of the wealthiest people derive the vast majority of their wealth from capital gains, not income. And it looks like that's what's being described by the article:
> The difference in tax rates between the wealthiest Americans and the average worker comes down to two critical factors, according to the investigation: first, the wealthy have their income taxed at a lower rate because much of their wealth is accumulated through investments, like stocks; and second, the wealthy are able to use large charitable donations to get huge deductions.
TL;DR: Capital gains taxes are distinct from income taxes. Journalist courts clicks by conflating the two.