When people say the rich aren’t paying their fair share, they’re saying taxes should go up on the richest 1% and 0.1%, who are often paying effective tax rates in the single digits most years because of their various tax schemes and shelters.
The people who are actually paying the highest effective income tax rates are the upper middle class, who between federal, state, and local taxes are being soaked for very little in return (European tax rates without free health care or university, for example). But they’re not rich, and they don’t have the same options actual rich people do.
If tax rates were flatter, I’m still confident the first group would carve out loopholes so they could keep hoarding wealth. Does the author think Donald Trump, of all people, would actually increase taxes on himself and his rich friends?
When people say the rich aren’t paying their fair share, they’re saying taxes should go up on the richest 1% and 0.1%, who are often paying effective tax rates in the single digits most years because of their various tax schemes and shelters.
The people who are actually paying the highest effective income tax rates are the upper middle class, who between federal, state, and local taxes are being soaked for very little in return (European tax rates without free health care or university, for example). But they’re not rich, and they don’t have the same options actual rich people do.
If tax rates were flatter, I’m still confident the first group would carve out loopholes so they could keep hoarding wealth. Does the author think Donald Trump, of all people, would actually increase taxes on himself and his rich friends?