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Democratic Primaries
Showing Original Post only (View all)We now know the richest 400 Americans have rigged the system [View all]
Link to tweet
(snip)
The overall tax rate on the richest 400 households last year was only 23 percent, meaning that their combined tax payments equaled less than one quarter of their total income. This overall rate was 70 percent in 1950 and 47 percent in 1980.
For middle-class and poor families, the picture is different. Federal income taxes have also declined modestly for these families, but they havent benefited much if at all from the decline in the corporate tax or estate tax. And they now pay more in payroll taxes (which finance Medicare and Social Security) than in the past. Over all, their taxes have remained fairly flat.
The combined result is that over the last 75 years the United States tax system has become radically less progressive.
(snip)
The data here come from the most important book on government policy that Ive read in a long time called The Triumph of Injustice, to be released next week. The authors are Emmanuel Saez and Gabriel Zucman, both professors at the University of California, Berkeley, who have done pathbreaking work on taxes. Saez has won the award that goes to the top academic economist under age 40, and Zucman was recently profiled on the cover of Bloomberg BusinessWeek magazine as the wealth detective.
(snip)
https://www.nytimes.com/interactive/2019/10/06/opinion/income-tax-rate-wealthy.html
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primary today, I would vote for: Undecided
primary today, I would vote for: Undecided
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Exactly. I wonder if he even sees his own culpability in creating this paradigm? -nt
Amimnoch
Oct 2019
#8
Nah. I've learned that many things he's not happy about he considers "rigged". It seems to be....
George II
Oct 2019
#11
Nope. You know, I can think of only one other politician who routinely uses the word "rigged".
George II
Oct 2019
#22
And yet no one who claims it's "rigged" can actually articulate what they mean....
George II
Oct 2019
#24
I certainly understand your desire to avoid "being bothered to Google" yourself
LanternWaste
Oct 2019
#27
this seems to fit the definition of rigged, regardless of anyone's feelings about Sanders
Celerity
Oct 2019
#30
We know all their names. Which part of "we" will make them have a sit down. IF they can be found.
ancianita
Oct 2019
#4
No, when Republicans have majorities in the legislature they vote to lower taxes and regulations
betsuni
Oct 2019
#5
It's not conspiracy of any kind to see that quid pro quo, done enough, cripples democracy.
ancianita
Oct 2019
#10
You raised the "diabolical conspiracy" idea. You tell me what that means and you'll have your
ancianita
Oct 2019
#15
It isn't really "now know" since anyone that has followed personal and corporate tax rates
TexasTowelie
Oct 2019
#12
True, this is not news. And, anyone who follows these things knows that "The 400"...
TreasonousBastard
Oct 2019
#13