Tax Rates on Billionaires
U.S. Senator Bernie Sanders (I–VT) claims that “billionaires pay an effective tax rate lower than the average worker.”
IN FACT, the richest 0.1% of U.S. households pay 2.8 times the average federal tax rate of middle-income households. Allegations to the contrary are based on deceitful studies that don’t measure all types of taxes and all types of income or misleadingly count unrealized capital gains as income.
