For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans.
Opinion Guest Essay Make Billionaires Pay (Their Taxes)Until recently, it was hard to know just how good the superrich are at avoiding taxes.
Let’s agree that billionaires should pay income taxes equivalent to a small portion — say, 2 percent — of their wealth each year.
Billionaires who already pay the baseline amount of income tax would have no extra tax to pay.
The idea that billionaires should pay a minimum amount of income tax is not a radical idea.
Persons:
Emmanuel Saez, Gabriel Zucman, we’ve, Demetrio Guzzardi, Jeff Bezos, Bezos, Berkshire Hathaway, Warren Buffett, Elon Musk, Bernard Arnault, Arnault’s, Arnault, Reagan, Critics, haven’t, Biden
Organizations:
Government, Social Security, European Economic Association, Institut des Politiques, Economic, Amazon, Elon, Twitter, Shepard, Getty, Trump, Internal, Abaca, New York, Facebook
Locations:
United States, Netherlands, States Netherlands Italy France, Italy, France, Tesla, LVMH, America, Europe, Sweden, Germany, Switzerland, U.S, Brazil, South Africa, Spain