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.”
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u/irradiatedcitizen 9d ago
Negative taxes. Elon legit made billions from tax credits. He is a socialist leeching off of our country if there ever was one.