Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
DaRude
on 26/04/2021, 03:11:02 UTC
A lower tax "rate" doesn't mean they paid less. The rich are paying more than their fair share, the poor are paying nothing

Wrong, again. My guess is you think federal income tax is the only tax.

https://itep.org/whopays/
Quote
The nationwide average effective state and local tax rate is 11.4 percent for the lowest-income 20 percent of individuals and families.

No, I think he means that a millionaire that pays X percent in tax pays a lot more in actual dollars then someone with, say, a 40 000 dollar a year income does if he pays the same percentage.

Yeah he's trying to pull numbers in absolute unadjusted USD which should be a capital offense on this forum. 

Yes, pointing out that rich people actually pays a lot more real money in tax than poor people is just bad.

2020 Q4 top 1% own $38.61T bottom 50% own $2.49T, so top 1% own 15 times more wealth than bottom 50%
https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/table/#range:2005.4,2020.4;quarter:125;series:Net%20worth;demographic:networth;population:1,3,5,7;units:levels

That kinda makes that statement rhetorical, outside of multi universe and quantum uncertainty, it's physically impossible for poor and middle class that own less wealth to somehow be able to pay more than ultra rich. In other news, water is liquid.