For the first time in history, billionaires have a lower effective tax rate than working-class Americans.

6 comments

1. The plan is working. Just wait until they get a limited national sales tax implimented.

2. Paywalled! Does anyone have a bypass link?

3. I’ve said this in a thread the other day, but it’s disingenuous to compare taxes paid on total wealth compared to INCOME tax, which is what this opinion article does. Wealth taxes are awful.

   My effective tax rate, using my total wealth, is like 1%. My effective tax rate, using my income, is a little higher than that.

   If you want to say that the rich can borrow against their assets, well so can you! I don’t recommend it, but you can.

4. makes sense because they couldn’t possibly afford paying more.

5. Biden announces a wealth tax and the media machine rolls into action like the little servants they all are. It’s amazing to watch it all in action. I’d be in awe if it werent so clearly orchestrated.

6. I want a constitutional amendment that says whatever the effective tax rate is for the wealthiest 1% is the highest rate that anyone in the US pays