The EU TAX Observatory says “the effective tax rates of billionaires appear significantly lower than those of all other groups of the population’’ because the richest use tax-avoidance schemes. In the United States, it says, billionaires pay an effective average tax rate of 23%, including all taxes at all levels of government. The poorest 10% of Americans pay more – 25.6%.
“I do not believe in late-stage capitalism or that prioritizing the extreme pursuit of profit at any and all human/environmental costs will save us. I believe in cooperative economics and cooperative democracy, aka democratic socialism.”
Alexandria Ocasio-Cortez