alt Hacker NewsThis is a transparently misleading framing.
The very wealthy are paying very low effective rates on their investment gains. Various billionaires have publicly described the truth of this. This is not 20% on top of 35%. They are paying a marginal rate of 35% of deliberately minimized taxable income and zero on deliberately maximized unrealized gains. Then 20% when realized, but as we all know by now there are ways to make sure it’s never realized.
I don’t know what the best approach is here, but I know this framing is nonsense.
Thank you. This is exactly the problem- pg is twisting the conversation by saying "look how painful taxes are for you, pleb!" When in reality, the taxation levels on the ultra-wealthy (whom this is targeted toward) are so much smaller not only on a %'age level, but on an impact level as well.