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In Reply to: Agreed, but billionaires should not be required to pay taxes... posted by Jay Buridan on May 25, 2023 at 18:14:39:
Politcians are very 'beholdin' to voters up until the MINUTE they are sworn to office, than they do as they please......Or rather as they are TOLD by the big $$ doners, party chiefs and paid staff.....
Billionaires? Top 1% of returns pay about 26% while the bottom HALF are overall at about 3.1%
Average return? Around 13%.
Top !% own a very large percentage of WEALTH of the country. Wealth is not taxed. Income is taxed.... Someone who owns a multi-million $ art collection? Not taxed until sold....than who knows? But wealthy people DO pay property tax. Here in California, if you own a million $ house? Maybe a thousand a month in property tax....1.25%......
Prop 13 ONLY in California protects against rapid increases in property value causing 'eviction by taxation'....
Too much is never enough
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Follow Ups
- RE: Agreed, but billionaires should not be required to pay taxes... - pictureguy 20:36:36 05/25/23 (0)