For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans.
For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans.
Billionaires can liquidate assets to pay taxes as needed — particularly income taxes, where that’s easy.
If you took half of all the billionaires wealth in the US it would be worth 1 year of IRS tax revenue. Or two year’s of our deficit. Then what?
The point is requiring them to pay a higher percentage because they’ve benefitted more from the way society is put together. Not to end all other taxation.