Ok, but that raises the question - which are those 9 states?
Edit: looks like the source is here https://itep.org/whopays-7th-edition/
Looks like Florida is currently the worst offender in that aspect.
Looks like Florida is currently the worst offender in that aspect.
And nobody should be surprised.
Apparently Washington was the worst, which I find quite surprising with how progressive the state is. It only just recently shifted to second worst.
I was going to ask:
How does this happen? Anyone have the math? Taxes are confusing.
But then I looked up the source. The answer is flat taxes. If everyone has to pay $100, and the poor person making $200 has to pay 5% on top of that, and the rich person making $10,000 has to pay 30% instead, the poor person’s total tax is $110, or 55%, and the rich person’s total tax is $3,100, or 31%.
Flat taxes are called regressive taxes because they charge a higher proportion of pay for poorer people.
It’s funny because his surname means “rich” in German (it could also mean “realm” to everyone who knows German only from yelling TV-Parody-Nazis who use the word in every sentence)
Income taxes are irrelevant to the rich. Their income doesn’t come from salaries, it comes from capital gains, which is a different tax. 1% rate or 99% rate they’re not going to be paying much of anything in income tax.
Their income doesn’t come from salaries, it comes from capital gains, which is a different tax.
Capital gains is still income though, right? Even if it’s a different tax, it should still be grouped as income and to what he’s referring to.
It’s never grouped with income in these articles because “the rich don’t pay taxes” gets those outrage clicks. The truth is the top 10% pay over 70% of the taxes in this country. One could argue that’s not enough, but we should approach it from an honest and accurate perspective.
One could argue that’s not enough
It isn’t.
Wealthiest Americans pay just 3.4% of income in taxes, investigation reveals. This is from 2022, but I’m not sure it’s gotten much better. https://www.theguardian.com/us-news/2022/apr/13/wealthiest-americans-tax-income-propublica-investigation
Is that Sam Reich’s dad?
Yes, he is.
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