Many of the uber-rich pay next to no income tax

submitted by video2 from yahoo.com

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[–]Touchngo 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

It is because they have wealth, not income. Income is taxed, wealth isn't.

It's complete BS, but that's the reason why. It's all legal, thanks to how the laws are written to always favor the wealthy.

[–]cant_even 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

45% of all supposed taxpayers "pAy No InCoMe TaX".

We now estimate that 40 percent of tax units won’t pay tax in 2025, higher than our previous projection of about one-third.