Tue Oct 8, 2019, 08:00 PM
riversedge (64,061 posts)
Billionaires paid lower tax rate than working class for first time in US history: study
Source: The Hill
By Justine Coleman - 10/08/19 07:27 PM EDT ...................... Economists Emmanuel Saez and Gabriel Zucman found in their book-length study "The Triumph of Injustice" that the average tax rate paid by the richest 400 families in the country was lower than the rate paid by the bottom half of American households in 2018, The Washington Post reported. The wealthiest 400 families had a 23 percent tax rate, compared to the bottom half of households, which had a 24.2 percent tax rate. ....................................... Saez and Zucman, economists at the University of California at Berkeley, analyzed Americans' effective tax rates since the 1960s, including federal income taxes, corporate taxes, state and local taxes, and "indirect taxes," which refer to licenses for businesses and motor vehicles, the Post reported........................................ The wealthy's taxes have declined over time from various actions by lawmakers, but the 2017 Tax Cuts and Jobs Act significantly lowered taxes for this group. Read more: https://thehill.com/policy/finance/domestic-taxes/464935-billionaires-paid-lower-tax-rate-than-working-class-for-first we knew this. now it is official.
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11 replies, 1801 views
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Author | Time | Post |
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riversedge | Oct 2019 | OP |
Anon-C | Oct 2019 | #1 | |
Jim__ | Oct 2019 | #2 | |
dalton99a | Oct 2019 | #3 | |
alwaysinasnit | Oct 2019 | #4 | |
ck4829 | Oct 2019 | #5 | |
BigmanPigman | Oct 2019 | #6 | |
paleotn | Oct 2019 | #7 | |
not fooled | Oct 2019 | #8 | |
dchill | Oct 2019 | #9 | |
katusha | Oct 2019 | #10 | |
Bernardo de La Paz | Oct 2019 | #11 |
Response to riversedge (Original post)
Tue Oct 8, 2019, 08:03 PM
Anon-C (3,345 posts)
1. Kick Rec Bookmark.
Response to riversedge (Original post)
Tue Oct 8, 2019, 08:15 PM
Jim__ (13,408 posts)
2. I guess this makes trump's working class voters happy because they're sure they're going ...
... to be billionaires soon.
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Response to riversedge (Original post)
Tue Oct 8, 2019, 08:34 PM
alwaysinasnit (4,501 posts)
4. K&R Thanks for posting.
Response to riversedge (Original post)
Tue Oct 8, 2019, 08:39 PM
BigmanPigman (46,816 posts)
6. I bet I paid more and I am in the Lower Class
group. I am almost at poverty level (I am at povetty level for CA) and pay 25% of my fixed income for taxes. My taxes have increased under tRump too!!! Am I pissed off...HELL YES!
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Response to riversedge (Original post)
Tue Oct 8, 2019, 09:56 PM
paleotn (13,983 posts)
7. Interesting chart
in the WaPo story linked at The Hill. The really big drop occurred under Reagan, in 81 and 86. Other than a slight bump in the mid 90's (Clinton) it's been all downhill. Obscene. Truly obscene.
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Response to riversedge (Original post)
Tue Oct 8, 2019, 09:58 PM
not fooled (5,233 posts)
8. Mission Accomplished!
This is it--the end game for pukes.
All the fol-de-rol about abortions, guns, demonizing libruls, etc. is all in service of this aim. If only the rubes who vote puke realized this. Not holding my breath. |
Response to riversedge (Original post)
Tue Oct 8, 2019, 10:44 PM
dchill (32,636 posts)
9. Great the things are going SOMEBODY'S way!
Response to riversedge (Original post)
Tue Oct 8, 2019, 11:28 PM
katusha (809 posts)
10. tax the rich, fix the country! n/t
Response to riversedge (Original post)
Wed Oct 9, 2019, 01:16 AM
Bernardo de La Paz (41,990 posts)