GATEKEEPERMay 28, 2023
Show thread🎓 Doc Freemo  ðŸ‡³ðŸ‡±

@GatekeepKen In the USa the billionaire tax rate is at about 30% (37% federal + 12% state give or take)... which is higher than most countries.

Also keep in mind most billionaires experience double taxation, the company itself is taxed, then the billionaire is taxed too.

May 29, 2023 at 1:31amWeb
Show threadDaniel (Not A Lawyer)May 29, 2023
@freemo @GatekeepKen Company and billionaire are separate entities. The company is taxed for its income, the billionaire is taxed for the income paid to them by the company. It's not a complex thing to understand.
Show thread🎓 Doc Freemo  ðŸ‡³ðŸ‡±May 29, 2023

@deedeeque No one said anything to the contrary.. and no it isnt a complicated thing to understand (but discussing like a mature adult appears like it could be a problem for you).

As I said, the billionaire tax rate in america is higher than most of europe, even when you dont count the double taxation, which is relevant because usually the middle class use pass-through taxation schemes and dont experience the same double taxation.