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For the first time in history, U.S. billionaires paid a lower tax rate than the working class last year
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wolfbat359
2019-10-09 16:34:02 UTC
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https://www.washingtonpost.com/business/2019/10/08/first-time-history-us-billionaires-paid-lower-tax-rate-than-working-class-last-year/?fbclid=IwAR2b34t58OKVpe5Gloq1OHp7Xn_FanSrf0YlJg-dzxMvUsSk_kHWEmZ4NdY

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\A new book-length study on the tax burden of the ultrarich begins with a startling finding: In 2018, for the first time in history, America’s richest billionaires paid a lower effective tax rate than the working class.

“The Triumph of Injustice,” by economists Emmanuel Saez and Gabriel Zucman of the University of California at Berkeley, presents a first-of-its kind analysis of Americans’ effective tax rates since the 1960s. It finds that in 2018 the average effective tax rate paid by the richest 400 families in the country was 23 percent, a full percentage point lower than the 24.2 percent rate paid by the bottom half of American households.

In 1980, by contrast, the 400 richest had an effective tax rate of 47 percent. In 1960, that rate was as high as 56 percent. The effective tax rate paid by the bottom 50 percent, by contrast, has changed little over time. .... (cont)
rumpelstiltskin
2019-10-10 01:27:41 UTC
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On Wed, 9 Oct 2019 09:34:02 -0700 (PDT), wolfbat359
Post by wolfbat359
https://www.washingtonpost.com/business/2019/10/08/first-time-history-us-billionaires-paid-lower-tax-rate-than-working-class-last-year/?fbclid=IwAR2b34t58OKVpe5Gloq1OHp7Xn_FanSrf0YlJg-dzxMvUsSk_kHWEmZ4NdY
https://www.washingtonpost.com/resizer/KkP2tBl1oqaBEbCR2aHHcJawCps=/1484x0/arc-anglerfish-washpost-prod-washpost.s3.amazonaws.com/public/JA2PZ6DJBFC57D5HWYGFCIA57Q.png
\A new book-length study on the tax burden of the ultrarich begins with a startling finding: In 2018, for the first time in history, America’s richest billionaires paid a lower effective tax rate than the working class.
“The Triumph of Injustice,” by economists Emmanuel Saez and Gabriel Zucman of the University of California at Berkeley, presents a first-of-its kind analysis of Americans’ effective tax rates since the 1960s. It finds that in 2018 the average effective tax rate paid by the richest 400 families in the country was 23 percent, a full percentage point lower than the 24.2 percent rate paid by the bottom half of American households.
In 1980, by contrast, the 400 richest had an effective tax rate of 47 percent. In 1960, that rate was as high as 56 percent. The effective tax rate paid by the bottom 50 percent, by contrast, has changed little over time. .... (cont)
That's what the Republican party is all about, IMO.
The philosophy is that if the country just takes care
of the rich, the lower classes will have more scraps
to eat.
wolfbat359
2019-10-10 01:31:37 UTC
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Post by rumpelstiltskin
On Wed, 9 Oct 2019 09:34:02 -0700 (PDT), wolfbat359
Post by wolfbat359
https://www.washingtonpost.com/business/2019/10/08/first-time-history-us-billionaires-paid-lower-tax-rate-than-working-class-last-year/?fbclid=IwAR2b34t58OKVpe5Gloq1OHp7Xn_FanSrf0YlJg-dzxMvUsSk_kHWEmZ4NdY
https://www.washingtonpost.com/resizer/KkP2tBl1oqaBEbCR2aHHcJawCps=/1484x0/arc-anglerfish-washpost-prod-washpost.s3.amazonaws.com/public/JA2PZ6DJBFC57D5HWYGFCIA57Q.png
\A new book-length study on the tax burden of the ultrarich begins with a startling finding: In 2018, for the first time in history, America’s richest billionaires paid a lower effective tax rate than the working class.
“The Triumph of Injustice,” by economists Emmanuel Saez and Gabriel Zucman of the University of California at Berkeley, presents a first-of-its kind analysis of Americans’ effective tax rates since the 1960s. It finds that in 2018 the average effective tax rate paid by the richest 400 families in the country was 23 percent, a full percentage point lower than the 24.2 percent rate paid by the bottom half of American households.
In 1980, by contrast, the 400 richest had an effective tax rate of 47 percent. In 1960, that rate was as high as 56 percent. The effective tax rate paid by the bottom 50 percent, by contrast, has changed little over time. .... (cont)
That's what the Republican party is all about, IMO.
The philosophy is that if the country just takes care
of the rich, the lower classes will have more scraps
to eat.
Trump plans to cut social security. Plus messing with Veterans seeking help!
me
2019-10-10 02:48:50 UTC
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If you want equality shouldn’t everyone pay the same rate?

You might also be interested in:
https://itep.org/who-pays-taxes-in-america-in-2019/

After that I suggest you ask who contributes how much to society. How is that distributed? Then ask have you done your fair share?

Follow all that up with the question: is envy a moral virtue?

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