Do billionaires really only pay 8.2%?

[Mik]

Nope. Biden was including unrealized gains. Now who was it was telling me he didn't intend to tax those?

https://www.msn.com/en-us/money/personalfinance/no-billionaires-don-t-pay-average-of-8-2-in-federal-taxes/ar-BB1jQIWs?ocid=msedgntp&pc=LCTS&cvid=4c8117fa857642a7bb2c6341ce1f74eb&ei=28

[George K]

Demagogues gotta demagogue...

By the way, did you know that the wimmenz in the Biden White House earn less than the men?

Dylan Mulvaney was not available for comment.

[89th]

Wow that is blatant. How did no one in the room raise their hand and be like "ummmm ya'll know what unrealized gains means, right? It means they literally do not have the money yet... it's like looking at someone's tax rate based on income they have yet to be paid for next year..."

I guess I know the answer of how... see George's post.

[Doctor Phibes]

I would have thought it was obvious that anybody who is worth a billion or more is going to have all kinds of avoidance strategies to minimize their tax burden. The idea that they get the majority of their wealth from income is rather quaint.

[Copper]

Billionaires don't bother me

I figure most people with that much earned it somehow

I don't assume they are greedy privileged elite

I do assume that their children will be lazy privileged elite and that will certainly hurt the billionaire more than any new tax.

[taiwan_girl]

@Copper said in Do billionaires really only pay 8.2%?:

I do assume that their children will be lazy privileged elite and that will certainly hurt the billionaire more than any new tax.

There is a saying in Chinese that basically says:

The first generation builds
The second generation maintains
The third generation loses