America's richest 400 families now pay a lower tax rate than the middle class

[Garion_55]

The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.


Factoring in federal, state and local taxes, those ultra-wealthy households pay a total rate of about 23% — that compares with just over 24% for the bottom half of households.


The U.S. now "looks like the tax system of a plutocracy," Saez

Factoring in all federal, state and local taxes, those ultra-wealthy households pay a total rate of about 23% — that compares with 24.2% for the bottom half of households, which includes many in the middle class. The richest families also pay a lower rate than those in the upper middle class and even those in the top 1%, who pay closer to 30% of their income in taxes.


https://www.cbsnews.com/news/americas-richest-400-families-pay-a-lower-tax-rate-than-the-middle-class/?fbclid=IwAR1XO_B73Sp0Ue0FmR9KpxuewU0qtiJU3pSotzh-iMDCpnHI-87yTCLZrGk#


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No wonder we are back up to trillion-dollar deficits. Plus we got a brand new space force for some reason that I guess we have to pay for now.

How come the #MAGits only care about massive deficits and debt when there is a Democratic president in the White House? And when they get in power they spend three four five times as much and nobody says a peep?

[ck4829]

1. K&R

[duforsure]

2. While trump and the gop

Attack and defund health care, attack Medicare, Medicaid and our Social Security, give trillions to the wealthy driving the deficit sky high. They deny wages to grow, except for the wealthy, and drive farmers into bankruptcy , and cost every consumer in this country with higher costs for goods and energy products they've allowed to go up. Not sure why anyone would vote for people who are doing this to us now. The coal miners , and auto workers, and others now know the truth about trump and the gop and soon a lot more will too. The super wealthy are being bribed using our money to do it with from trump and the gop's actions. Their tax scam is a clear example of it.

[Bernardo de La Paz]

5. It's by design. 1) Starve revenue. 2) Say Oops! We have to cut services! . . . . nt

[Sherman A1]

3. k&r

Thanks for posting.

[BigmanPigman]

4. This makes me want to scream like my avatar.

[zentrum]

6. The MAGGOTS will care

...when their Meidcare and SSN benefits are cut.

Wonder if they'd still support him if the person he shot on Fifth Avenue was them.

[Skittles]

11. MAGAts, please

MAGGOTS ARE ACTUALLY EXTREMELY IMPORTANT AND SERVE A PURPOSE

[zentrum]

12. Oops. You are so right!

[Laura PourMeADrink]

7. Another example of what Dems need to campaign on

It's black and white and non-political

[Martin Eden]

8. Starve The Beast

This has long been the Rethug strategy to destroy Social Security, Medicare, and other safety net programs by blaming the deficits on "entitlements."

[fescuerescue]

9. Space force if done right will save money

Since it's simply moving various space functions to a single entity, instead of having it spread out and duplicated over several. These are primarily spying functions.

It's ashame that this wasn't done by a Democrat because then it would be done right.

But it's being done by Trump so we know he'll fuck it up, and it'll just be duplicative instead of reducing duplication.

https://breakingdefense.com/2019/05/navy-marines-grapple-with-moving-to-space-force/

[DemocracyMouse]

10. "they spend three four five times as much and nobody says a peep"

Sorry to criticize Democrats along with you, but they should have said a peep about the runaway Defense spending. Over-bridled militarism is bringing down this country.

And why haven't the Democrats said a peep about oil companies getting tax breaks which total a figure many times more than our education budget. No wonder this country is so uninformed.

Yes, Republicans are worse. But we have to keep their feet to the fire by holding a higher standard and pointing out, repeatedly, the folly of their odious ways.

[Blue_true]

13. Democrats have been publicly criticizing the entire list that

you presented for years. If you don't realize that fact, then how can you call other people mis-informed? Republicans win elections because some people that say they are progressives have allowed themselves to be deluded into the belief that democrats have been silent on the very things that they have spoken loudly against, AND when in power, put in place legistlation to correct.