The total U.S. national debt is approximately $40.30 trillion, according to the U.S. Treasury Fiscal Data.
We don't run on a balanced budget so it doesn't make sense to me that billionaires not being taxed enough is the reason people aren't eating or receiving healthcare.
It's because you can't fathom how much money is not being paid by billionaires.
Their effective tax rate is around 9%, and it's supposed to be almost 40%.
To put it in another train of thought, the top 1% is SO RICH that even at that modest 9% tax rate they STILL pay 40% of all federal income tax revenue.
EDIT: I do want to agree that balancing the budget should ALSO be a major priority. Not just a balanced budget, but a concerted effort to vastly reduce debt.
So Redditors donât consider âmillionairesâ to be boogeymen anymore? I remember they were until around the time Bernie became one and dropped âmillionairesâ from his âmillionaires and billionairesâ screeds
This is total bullshit unless your willing to tax on unrealized gains and take that into the equation of their tax rate. Otherwise, this is completely skewing the tax rate of billionaires.
2
u/Miserable-Wave-6081 9h ago
The total U.S. national debt is approximately $40.30 trillion, according to the U.S. Treasury Fiscal Data.
We don't run on a balanced budget so it doesn't make sense to me that billionaires not being taxed enough is the reason people aren't eating or receiving healthcare.