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U.S. billionaires paid a lower tax rate than the working class last year

Posted: Sun Dec 15, 2019 5:59 pm
by K9s
For the first time in history, U.S. billionaires paid a lower tax rate than the working class last year
https://www.washingtonpost.com/business ... last-year/
The analysis differs from many other published estimates of tax burdens by encompassing the totality of taxes Americans pay: not just federal income taxes but also corporate taxes, as well as taxes paid at the state and local levels. It also includes the burden of about $250 billion of what Saez and Zucman call “indirect taxes,” such as licenses for motor vehicles and businesses.

The analysis, which was the subject of a column Monday in the New York Times, is also notable for the detailed breakdown of the tax burden of not just the top 1 percent but also the top 0.1 percent, the top 0.01 percent and the 400 richest households.

The focus on the ultrarich is necessary, Saez and Zucman write, because those households control a disproportionate share of the nation’s wealth: The top 400 families have more wealth than the bottom 60 percent of households, while the top 0.1 percent own as much as the bottom 80 percent. The top 400 families are a “natural reference point,” Zucman says, because the IRS publishes information on the top 400 taxpayers as a group, and other sources, such as Forbes, track the fortunes of the 400 wealthiest Americans.
The Rich Really Do Pay Lower Taxes Than You
https://www.nytimes.com/interactive/201 ... althy.html
For the first time on record, the 400 wealthiest Americans last year paid a lower total tax rate — spanning federal, state and local taxes — than any other income group, according to newly released data.

For middle-class and poor families, the picture is different. Federal income taxes have also declined modestly for these families, but they haven’t benefited much if at all from the decline in the corporate tax or estate tax. And they now pay more in payroll taxes (which finance Medicare and Social Security) than in the past. Over all, their taxes have remained fairly flat.

Re: U.S. billionaires paid a lower tax rate than the working class last year

Posted: Sun Dec 15, 2019 6:10 pm
by bigbass4me
November 8 2016 a day that will live I’m empathy


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Re: U.S. billionaires paid a lower tax rate than the working class last year

Posted: Sun Dec 15, 2019 7:04 pm
by YankeeTarheel
Isn't that the way it's supposed to be? After all the rich do SO much for us we're lucky we don't have pay THEM!
(Oh! Wait! We do! Over 20 billion to factory farms that didn't lose much to the Chinese tariffs. Billions in oil subsidies. Hell, we even GAVE the airlines gates WE paid to build!)

Re: U.S. billionaires paid a lower tax rate than the working class last year

Posted: Sun Dec 15, 2019 8:25 pm
by K9s
The "job creators" we hear about from the GOP. They grace most people with wages, and those wage workers pay for all the infrastructure for the glorious oligarch "businesses" and give them a huge cut of their wages called "subsidies" and "bailouts".

Image

Re: U.S. billionaires paid a lower tax rate than the working class last year

Posted: Sun Dec 15, 2019 10:59 pm
by CDFingers
"There are two types of trump supporters, billionaires and idiots. Check your bank account to see which you are."

CDFingers

Re: U.S. billionaires paid a lower tax rate than the working class last year

Posted: Sun Dec 15, 2019 11:10 pm
by featureless
Mam that gives me a warm fucking fuzzy feeling.

Re: U.S. billionaires paid a lower tax rate than the working class last year

Posted: Mon Dec 16, 2019 7:28 am
by YankeeTarheel
CDFingers wrote:
Sun Dec 15, 2019 10:59 pm
"There are two types of trump supporters, billionaires and idiots. Check your bank account to see which you are."

CDFingers
:roflmao:

And White Supremacist fascist assholes generally fall into the "idiot" grouping.

Re: U.S. billionaires paid a lower tax rate than the working class last year

Posted: Mon Dec 16, 2019 11:54 am
by Wino
CDFingers wrote:
Sun Dec 15, 2019 10:59 pm
"There are two types of trump supporters, billionaires and idiots. Check your bank account to see which you are."

CDFingers
I'm going to plagiarize that for another site. LOL

Re: U.S. billionaires paid a lower tax rate than the working class last year

Posted: Mon Dec 16, 2019 12:01 pm
by CDFingers
Wino wrote:
Mon Dec 16, 2019 11:54 am
CDFingers wrote:
Sun Dec 15, 2019 10:59 pm
"There are two types of trump supporters, billionaires and idiots. Check your bank account to see which you are."

CDFingers
I'm going to plagiarize that for another site. LOL
I put it in quotes because I took it from another site without attribution. I think it's a thing,

CDFingers

Re: U.S. billionaires paid a lower tax rate than the working class last year

Posted: Mon Dec 16, 2019 12:06 pm
by highdesert
They have tax lawyers, accountants and lobbyists that have gotten all those special deals written into the tax codes. They plan ahead, give to charities for the deductions which also helps their images park some overseas.... And if those tax lawyers and accountants don't save them money they drop them and hire others. Same way with corporations.

Re: U.S. billionaires paid a lower tax rate than the working class last year

Posted: Mon Dec 16, 2019 12:19 pm
by K9s
CDFingers wrote:
Mon Dec 16, 2019 12:01 pm
Wino wrote:
Mon Dec 16, 2019 11:54 am
CDFingers wrote:
Sun Dec 15, 2019 10:59 pm
"There are two types of trump supporters, billionaires and idiots. Check your bank account to see which you are."

CDFingers
I'm going to plagiarize that for another site. LOL
I put it in quotes because I took it from another site without attribution. I think it's a thing,

CDFingers
It should be a campaign sign, tee shirt, and bumper sticker.

Re: U.S. billionaires paid a lower tax rate than the working class last year

Posted: Mon Dec 16, 2019 1:26 pm
by Wino

Re: U.S. billionaires paid a lower tax rate than the working class last year

Posted: Mon Dec 16, 2019 2:10 pm
by YankeeTarheel
highdesert wrote:
Mon Dec 16, 2019 12:06 pm
They have tax lawyers, accountants and lobbyists that have gotten all those special deals written into the tax codes. They plan ahead, give to charities for the deductions which also helps their images park some overseas.... And if those tax lawyers and accountants don't save them money they drop them and hire others. Same way with corporations.
And they hire politicians the same way--like Paul Ryan and Mitch McConnell.