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Why America’s Richest Pay Less in Taxes: The Surprising Truth Revealed
Why America’s Richest Pay Less in Taxes: The Surprising Truth Revealed
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BTCCSquare news:
The wealthiest Americans consistently pay lower effective tax rates than the general population, a disparity magnified by recent policy changes. A National Bureau of Economic Research study analyzing Forbes' top 400 reveals their 23.8% average rate (2018-2020) trails the 30% national average—with the top 100 paying just 22%. Wage earners face 45% rates, highlighting structural advantages for capital-based wealth.
Trump's 2017 Tax Cuts and Jobs Act exacerbated this gap, reversing a period (2010-2017) when billionaire tax rates aligned closer to mainstream figures. The findings validate decades of polling showing public skepticism about tax fairness among economic elites.
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