A study by White House economists released on September 23 found that the 400 wealthiest U.S. families paid an average income tax rate of just 8.2 percent from 2010 to 2018. This column examines how that low tax rate compares with what ordinary people pay, using six examples of typical workers and families. It illustrates how wages are taxed at higher rates than income derived from wealth and demonstrates how this tiered rate system benefits the richest members of American society. Congress has a rare chance to fix these fundamental problems by passing the Build Back Better agenda, which would expand tax credits for working families and reform the tax treatment of income from wealth.
The Forbes 400 Pay Lower Tax Rates Than Many Ordinary Americans – Center for American Progress
