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Your point is undercut by the vastly lower effective tax rates rich Americans pay vs middle class workers. It's the norm in this country for someone making mill
by rurp 1y ago
Your point is undercut by the vastly lower effective tax rates rich Americans pay vs middle class workers. It's the norm in this country for someone making millions of dollars/year to pay a significantly lower tax rate on that income than anyone working a decent paying job.
A horseshoe shaped tax graph by income is clearly against the intent and spirit of a progressive tax code so something is very much broken and has been so for decades.
- deleted 1y ago[deleted]
- thesmtsolver 1y agoBut your point is undercut by the fact the vast majority of middle class workers do invest and benefit from long term capital gains taxes. Around 40% of stocks are in retirement accounts.
- alphawhisky 1y agoAround 50% of the entire market cap of the NASDAQ is owned by the top 1%. Tax it.
- hello_moto 1y agoalso tax their other assets...