Do they just not file paperwork and then bribe a judge? Are their taxes so complicated that even the IRS gives up? What the hell, man…
In: Economics
In the US, in 2016, 37.3% of individual tax revenue was collected by the top 1% of earners. By comparison, the bottom 50% of earners contributed 3% to tax revenue.
Billionaires ARE paying taxes. On average, they pay about 27%. However, you need to understand that “billionaire” refers to net worth, not income or actual cash holdings. Jeff Bezos doesn’t have $120 billion in a bank account. It’s all tied up in stocks and those don’t get taxed until/unless he sells them.
In fact, Jeff Bezos only makes $83,000 per year in salary, so he pays something like $7000 in income tax if he doesn’t sell any stock. And if he does sell stock, if gets taxed at capital gains rates, which are much lower than income tax rates.
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