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It puzzles you in spite of knowing that wealthy people are taxed more by default due to progressive tax rates etc?
by jalapenos 2y ago
It puzzles you in spite of knowing that wealthy people are taxed more by default due to progressive tax rates etc?
- zarzavat 2y agoUsually, wealthy people pay capital gains tax not income tax. People who pay higher rate income tax are just normal people with a larger salary. Not every country works like this however.
- johngladtj 2y agoThe net tax rate after subsidies is essentially zero% for the bottom 50% in income terms.
- jalapenos 2y agoBasically: if you're in the middle, you're lunch.