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 Cool: The Rich Really Do Pay Lower Taxes Than You

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Cool: The Rich Really Do Pay Lower Taxes Than You Vide
PostSubject: Cool: The Rich Really Do Pay Lower Taxes Than You   Cool: The Rich Really Do Pay Lower Taxes Than You Icon_minitimeTue Oct 08, 2019 6:22 pm

Almost a decade ago, Warren Buffett made a claim that would become famous. He said that he paid a lower tax rate than his secretary, thanks to the many loopholes and deductions that benefit the wealthy.

His claim sparked a debate about the fairness of the tax system. In the end, the expert consensus was that, whatever Buffett’s specific situation, most wealthy Americans did not actually pay a lower tax rate than the middle class. “Is it the norm?” the fact-checking outfit Politifact asked. “No.”

Time for an update: It’s the norm now.

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.

https://www.nytimes.com/interactive/2019/10/06/opinion/income-tax-rate-wealthy.html

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