numberwang on 03 March 2020
| Mnementh said: In the final graph everyone was pretty much at the same level, except the billionaires. For the data, it is all linked in the video-description on Youtube. |
The 400 billionaires pay about the same overall tax rate of 23% as the low/middle class at 23.5% according to the video.
What I don't get is how the income tax % falls of so steeply from the high income group to the billionaire group. I get that income is replaced with cap gains but cap gains are taxed at 20-37% so even Warren Buffet should pay at least 20% cap gains/income tax rate for his long term cap gains.
I don't know if this is done by tax evasion but it seems much less than what is required by law.
