The wealthy are turning America into their personal possession. And they don’t care one bit if the 99 percent rot. But it would not be happening without the politicians who make the tax laws. Both parties have sold their souls to wealthy special interests so that they can keep power:
The wealthiest 400 American families paid an 8.2% average rate on their federal individual income taxes from 2010 to 2018, according to a White House analysis published Thursday.
Those richest 400 families represent the top 0.0002% of all taxpayers, according to the White House report.
Their estimated tax rate, paid on $1.8 trillion of income over the nine-year period, is "low" relative to other taxpayers, according to the report, which was authored by economists in the Council of Economic Advisers and Office of Management and Budget.
By comparison, Americans paid an average 13.3% tax rate on their income in 2018, according to a Tax Foundation analysis. (This figure includes all taxpayers, including the wealthiest.)