Liberal Forum

jerrab » 5 minutes ago » wrote: ↑

5 minutes ago

Not really.  /////////------A wealthy person heavily reliant on a corporate salary might pay an effective rate as high as 45%, while billionaires who build wealth through assets can see their "true" tax rate drop to under 5% to 8%/////

That's true. Billionaires use their stocks from their company as collateral. They get loans for an insane amount of money to live off, but because that is debt, it isn't taxed. So, yes. That is correct.