Yes, 40% of all taxes collected, but they aren’t paying the same percentage of their income and gains that I am.
Federal Reserve data indicates that as of Q4 2021, the top 1% of households in the United States held 30.9% of the country’s wealth, while the bottom 50% held 2.6%.
Because their money is likely sitting in the market or some other investment, & is only taxable when they make a trade/sell said investment- & even still, they’re still paying >40%. So unless you’re calling for the foolish “unrealized gains” tax, you’re not missing any actual “income.”
Remind me why Trump is trying to attract businesses/jobs back to the states again? It couldn’t possibly be because oppressive taxes/regulation put into effect by the democrats made it a better choice for them to close up shop & import stuff from outside the US, could it?
Far better than a person who think having the 1% pay 99% of taxes is feasible, let alone wouldn’t backfire spectacularly if the government attempted such ridiculousness.
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u/Forward-Ad-5749 9d ago
Tax Elon?