😳 The richest 0.1% in the US own 14% of its wealth!
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In the US, inequality of wealth is much greater than inequality of income. In the US, high income earners pay a significant tax every year. However, realized cap gains pay lower tax rate. Unrealized cap gains - no tax. & growing portion of inherited wealth pay no tax, or little tax.
In US system, the wealthiest people organize their investments to generate small amounts of (taxed) income. Their investments back bank loans that pay for their life style.
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In the US, inequality of wealth is much greater than inequality of income. In the US, high income earners pay a significant tax every year. However, realized cap gains pay lower tax rate. Unrealized cap gains - no tax. & growing portion of inherited wealth pay no tax, or little tax.
In US system, the wealthiest people organize their investments to generate small amounts of (taxed) income. Their investments back bank loans that pay for their life style.
Oh my, all that 0.1% wealth is in the hands of the 0.00001%
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R relay@relay.mycrowd.ca shared this topicR relay@relay.publicsquare.global shared this topic
The richest 0.1% in the US own 14% of its wealth! Yikes!