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And the beauty is that long term capital gains is capped at 20%. That's a lower overall rate than what my family pays in taxes. The rich got it made.
by Salgat 2y ago
And the beauty is that long term capital gains is capped at 20%. That's a lower overall rate than what my family pays in taxes. The rich got it made.
- polski-g 2y agoThe top 10% of America pay 75% of all taxes received -- the top 25% pay for 89%. https://www.ntu.org/library/doclib/2024/02/2021-who-pays-2-.pdf https://www.ntu.org/library/doclib/2024/02/2021-who-pays-2-....
- mkipper 2y agoConveniently, there's no mention of the 0.1% in there, and the historical data comparing the tax contribution of the top 1% to the total tax base doesn't include any information on income and wealth growth of the 1% over that same time period. Weird! But given that the organization who published that was founded by a Newsmax board member, I'm sure they're trying to paint a clear and unbiased picture of things.
- Salgat 2y ago400 families own the same wealth as 160 million Americans, so they better be paying far more in taxes. In fact, given how much taxes eat into basic living expenses for the bottom 50%, the rich should be paying even more in taxes.