Guest Essay
Gabriel Zucman is an economist at the Paris School of Economics and the University of California, Berkeley.
May 3, 2024
In the 1960s, the 400 richest Americans paid more than half of their income in taxes.Higher tax rates for the wealthy kept inequality in check and helped fund the creation of social safety nets like Medicare, Medicaid and food stamps.
Today, the superrich control a greater share of America’s wealth than during the Gilded Age of Carnegies and Rockefellers.That's partly because taxes on the wealthy have cratered. In 2018, America's top billionaires paid just 23 percent of their income in taxes.
For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans.
www.nytimes.com
It’s Time to Tax the Billionaires
By Gabriel ZucmanGabriel Zucman is an economist at the Paris School of Economics and the University of California, Berkeley.
May 3, 2024
In the 1960s, the 400 richest Americans paid more than half of their income in taxes.Higher tax rates for the wealthy kept inequality in check and helped fund the creation of social safety nets like Medicare, Medicaid and food stamps.
Today, the superrich control a greater share of America’s wealth than during the Gilded Age of Carnegies and Rockefellers.That's partly because taxes on the wealthy have cratered. In 2018, America's top billionaires paid just 23 percent of their income in taxes.
For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans.
Opinion | It’s Time to Tax the Billionaires (Published 2024)
Billionaires are experts at avoiding taxes. By banding together, countries can make them pay up.
Fuk off a**hole. Nothing I posted was incorrect.
