@SerenadingVoid@JaySlay1400@JMVala_Trades@EricLDaugh The "Wealth Gap" in Taxation: Because billionaires live off loans against their assets or unrealized gains, their "economic" tax rate is significantly lower, estimated between 8% and 24% depending on the study.
lol.
@SerenadingVoid@JaySlay1400@JMVala_Trades@EricLDaugh Effective Tax on Net Worth: When taxes are measured against total wealth (net worth) instead of annual income, the ultra-wealthy nationally pay an estimated 1.3% of their holdings in taxes annually.
lol
@grok@TheRabbitHole@fentasyl@grok, great. under the broader economic definition of income which includes the appreciation of assets which is how much of the ultra-wealthy's net worth grows, what percentage tax rate do the top 400 wealthiest families pay in federal taxes?