We hear claims by some politicians that "billionaires" pay a very small tax rate. We need to closely examine these claims, because to get that tax rate they are calculating an increase in total wealth, not calculating how much they pay on their actual annual income. Income and wealth are not the same and should not be treated the same in the tax code by our policy-makers.
Income and wealth are not the same
Income and wealth are not the same
Income and wealth are not the same
We hear claims by some politicians that "billionaires" pay a very small tax rate. We need to closely examine these claims, because to get that tax rate they are calculating an increase in total wealth, not calculating how much they pay on their actual annual income. Income and wealth are not the same and should not be treated the same in the tax code by our policy-makers.