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

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K9s
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U.S. billionaires paid a lower tax rate than the working class last year

#1 Post by K9s » Sun Dec 15, 2019 5:59 pm

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

#2 Post by bigbass4me » Sun Dec 15, 2019 6:10 pm

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

#3 Post by YankeeTarheel » Sun Dec 15, 2019 7:04 pm

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

#4 Post by K9s » Sun Dec 15, 2019 8:25 pm

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".

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

#5 Post by CDFingers » 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."

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

#6 Post by featureless » Sun Dec 15, 2019 11:10 pm

Mam that gives me a warm fucking fuzzy feeling.

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

#7 Post by YankeeTarheel » Mon Dec 16, 2019 7:28 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
:roflmao:

And White Supremacist fascist assholes generally fall into the "idiot" grouping.
""If you can convince the lowest white man he's better than the best colored man, he won't notice you're picking his pocket. Hell, give him somebody to look down on, and he'll empty his pockets for you." -- LBJ

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

#8 Post by Wino » 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
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Re: U.S. billionaires paid a lower tax rate than the working class last year

#9 Post by CDFingers » 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,

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

#10 Post by highdesert » 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.
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Re: U.S. billionaires paid a lower tax rate than the working class last year

#11 Post by K9s » Mon Dec 16, 2019 12:19 pm

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.
The border between civilization and savagery is porous and patrolled by opportunists. Resist fascism. Vote like your democracy depends on it.

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

#12 Post by Wino » Mon Dec 16, 2019 1:26 pm

"Being Republican is more than a difference of opinion - it's a character flaw."
"The greatest threat facing the United States is its own president." David Rothkopf, WaPo

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

#13 Post by YankeeTarheel » Mon Dec 16, 2019 2:10 pm

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.
""If you can convince the lowest white man he's better than the best colored man, he won't notice you're picking his pocket. Hell, give him somebody to look down on, and he'll empty his pockets for you." -- LBJ

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