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It doesn’t really matter how much tax is paid by “the rich” (say, top 1 in 1000), because collectively, they make too little money to make much of a difference
by xyzzyz 3y ago
It doesn’t really matter how much tax is paid by “the rich” (say, top 1 in 1000), because collectively, they make too little money to make much of a difference even if we taxed 100% of their income.
What does matter is taxation on top 20% of population, and they do pay a lot of money on property taxes.
- Dylan16807 3y agoThe income (including capital gains) of the top tenth of a percent are more than 10% of total income. The average federal income tax is under 15%. It would make a ridiculously large difference.