- Dec 18, 2013
- Reaction score
demofks never listen to facts.Income is not wealth.The rich are paying a wealth tax on their real estate, but the rich are different from you and I, most of their wealth does not come from land. Larry Ellison is a good example.First, the rich are paying the same property taxes as everyone else. They paying that "wealth tax" as you put it.
Bloomberg estimates Ellison's total fortune at just under $81 billion.
His real estate holdings range from Malibu to Rhode Island to owning 98% of the Hawaiian island of Lanai, yet they total less than $6 billion.
Unlike the vast majority of Americans, Larry's paying a wealth tax on about 7.5% of his net worth.
"MARCH 2, 2021
The Average American Pay Tax on Half of Their Wealth, Shouldn’t Rich Americans?"
It is typical of partisans to ignore the meanings of words in their propaganda.
Wealth is net worth not income.