Wealthiest Americans Now Paying Lower Tax Rates Than Poor People


If all of the scandals that have emerged with
Donald Trump and his friends this week aren’t enough to make your blood boil. If his disgusting performance at that Minnesota
rally isn’t enough to get you riled up, then consider this story that’s flown a little
to under the radar this entire week. the richest 400 families in this country are
now paying a lower tax rate than the bottom 50% of American citizens. The poor and the middle class pay a higher
percentage of our taxes than the wealthiest 400 families in the United States according
to the latest round of data. The effective tax rate for the 400 wealthiest
households in the United States is roughly 23% whereas the middle class pays roughly
24.2% so they’re paying 1.2% less in taxes than we do. And sure, I know conservatives are going to
come out and say, well, they’re worth billions, and even if they’re paying 1% less, they’re
still paying a hell of a lot more than you folks. Sure, absolutely. It’s not what this is about. This country has a progressive tax system,
which means the more you make, the more you pay. That’s how it works. That’s how it’s set up and that’s how it should
be set up. but this is exactly what Republicans wanted
to do. This is what they wanted. This was their goal and they have achieved
it. Poor people in middle-class people in this
country are now paying more of our share of income than the wealthy elite. And that was by design. And here’s one of the reasons why it happened. Obviously when they passed the tax cuts and
jobs act of 2017, it, uh, it took away some of the loopholes for the wealthy people. It created a lot more than it took away. They took away a lot of loopholes for the
average income earner and didn’t give us anything extra. That’s why we ended up, uh, either not seeing
any tax benefit or actually paying more. But, uh, yeah, I mean, if you’re wealthy,
you now get to write off the entire cost of a private jet. Um, there’s lower taxes on non wage income,
which is where most of these people’s money comes from. You know, selling houses, selling assets,
holding assets, trading stocks, those taxes all went down and that’s where most of their
money comes from. And that’s what this new report is explaining
the differences. The rest of us, all of our income comes from
wages and our actually wage taxes didn’t change. It really didn’t. So that’s why we’re now paying a higher percentage
of our tax than they are. And this isn’t fair and this is pissing people
off and it should. And this is exactly what people like Bernie
Sanders are talking about when they talk about how the system is skewed in favor of the rich,
how the gap between the haves and the have nots continues to grow at an exponential rate. At this point, this is what he’s talking about. And yes, this is a big deal. I should not be paying more in taxes than
somebody who has $1 million. And I know the 400 wealthiest families have
way more than just a million, but it’s not fair. You shouldn’t be paying more in your taxes. We are supposed to have a progressive tax
system in this country, but Republicans have destroyed it because those wealthy elite,
those are the ones who fund their campaigns, not the rest of us. Not the bottom 50% so they don’t care. They don’t care how much our taxes go up. They’re going to continue to feed us lies
like Trump did just a few days ago, telling us that we’re getting an extra four to $5,000
a year. No, we’re not. No, we’re not. We’re not idiots like you. We can look at our paychecks and see that
literally nothing has changed year over year for the last few years. Maybe it’s just me. I don’t know. Maybe I’m bitter. Maybe I’m angry, but I think we should all
be angry at this point. We should all be a little bit bitter. Republicans and corporate Democrats have rigged
this system to where the only way you can get ahead is if you were already ahead of
everyone else.




Comments
  1. Ya and we are bailing out the banks know. Go to traderchoice.net to get info. The banks are now getting 75 billion a day!!! By the central banks which is robbing your 401k's.

  2. The IRS needs to be gutted and rebuilt. This is all out of hand. It's outrageous,and pisses. me.off. Why in the hell should the poor pay more? F***the rich, God is watching

  3. The police should not protect rich people or investigate crimes committed against them if they don't want to pay taxes. They can afford private security and private investigators.

  4. I am in my fifties, I was taught way before I could vote that Republicans are for the rich and Democrat for middle class. Still middle class here. #VOTEBLUE2020

  5. Democracy is a lot of bullshit in America and probably most country that adopted this system because the government is not doing shit for the people. It's for the rich people.

  6. Hmmmm, well, I didn’t see that coming ….🤨
    Remember folks, if you voted for Trump and the republicans then you voted to shoot yourself in the foot with a double barrel shotgun. You helped make the rich and corporations richer whilst making yourself and others poorer and just that little bit more destitute. Please make sure to tell your children and grandchildren and their children how immensely stupid you really are! I hope you’re proud of your great orange leader! The republicans are all laughing at how gullible you really are and they are laughing all the way to the bank! Poorly informed voters handed power over to the most corrupt political party and president in the history of US politics. Well played!

  7. "If you can convince the lowest white man he's better than the best colored man, he won't notice you're picking his pocket. Hell, give him somebody to look down on, and he'll empty his pockets for you."- Lyndon B. Johnson

  8. AFTER ALL THAT HAS BEEN REVILED.. HOW CAN CONSERVATIVES STILL LOOK THEIR CHILDREN IN THE EYE'S, FULLY KNOWING THAT THEIR INCESTUOUS TRAITOR MASTER IS A AUTHORITARIAN PSYCHOPATH?? 🇺🇸😔🇺🇸

  9. This is why I am 100% a Flat Taxer. You tax every single working person, stock trader, corporation, church, 10% across the board, and there are no such things as Deductions for any reason. Oh, and of course, you have to add in, "and the taxing government can not under any condition spend one penny more than it collects".

  10. This is like being ahead in a race for wealth and you pay a group millions of dollars to move the finish line closer to win the prize money. They don't need it!

  11. Wealthy people, have not learned responsibility, when they grow up with wealth they learn how to cheat the system and take advantage of those less fortunate than they are. They feel no remorse or companion for anyone but themselves.

  12. The richest 400 families are playing Monopoly. Around and around the board until they own all the hotels, houses and railroads. When they have all the money it's game over for working people. Back to Kings and Serfs.

  13. That was always the plan. And his cult members and random Republicans and Democrats who voted for him were too stupid to recognize that.

  14. So americans believed that a guy who was born with a silver spoon in his mouth and never drove a stroke in his life would be for the average Joe? You Americans were conned by a 3rd rate reality TV star. 😂😂😂😂

  15. If the wealthy used their tax savings to improve the lives of the general public then this would be okay.
    But most of the wealthy is either recycled in the money game or used to buy ego boosting hedonism.

  16. Please do more on this subject because the average person is unaware of it. This is a systemic problem. Thank you for allowing your videos to be shared.

  17. Fixed System! 8 yrs (2 terms) Republican President then a Recession, then 8 yrs (2 terms) a Democratic President to Pull us Out of Recession & back on track! It's a Fact! Just check the last 50 yrs! Checks & Balances, this is how they invest, pull out, manipulate – abuse the system to Fill their Pockets!! 😎 Eyes Wide Open!

  18. How does a political party that only benefits the top maybe 1,000 people in this country of 350M+ people win NATIONAL ELECTIONS, THAT'S what people should seriously start asking themselves!! It's complete insanity. I know I have a heck of a lot higher taxrate than these bastards, and I'm certainly not in the top 1%.

  19. Drumpfco Celebrates! "Hail Victory! Hail Drumpf!"

    Negative taxation on the Ruling Class! (Pay them for the blessing of wealth!) Grab that largesse from the poor, who deserve abuse! (Rand and Redbeard!)

    *Up Serfdom! Bless the haves! Curse the have-nots! *

  20. So basically at this point Republican supporters can be narrowed down into one of two groups. If you support Republicans you're either the richest of the rich, literally born with a silver spoon shoved in your mouth. Or you're the dumbest human being who ever lived, and I mean seriously dumb, like natural selection should have picked your dumb ass off years ago and there is no logical explanation for how you're still alive right now. Or in some cases both. You can go ahead and try and argue my point. But as logic clearly dictates that if you try to argue it you are clearly too stupid to win that argument.

  21. Actually, the "wealthy" do not have lower tax rates. If this clown was intelligent at all, he would know that the "wealthy" pay 90 percent of the taxes. What he is doing is trying to stir up the standard class envy that liberals love. The wealthy have more money, but the percentage is the same. They just have more left over.

  22. And because of his trade war…these wealthy people are sitting on their money saved instead of investing in the economy! Keep us where we're at….no progression just recession

  23. That's because worrying about who's on welfare & immigration is more important to the idiot narcissis. Then caring about everyone paying their fair share. So they vote for Republicans & keep us poor & struggling. Damn dummies!

  24. They’re using “God” to get people to vote for them. Racism and “family values” make people vote republicunt. And then…they take your money.

  25. This isn't really a Trump thing. The same result would happen no matter what Republican was president. This is Republicans only policy.

  26. Sadly, Trump knows the poor are easy to con because they're desperate. Trump is an evil con man taking advantage of the poor.

  27. The robbing of the American people has been going for 40 years. Thanks to Ronald Reagan trickle down economics. Reagan what a scumbag.

  28. Well, then that Reagan era GREAT job I was promised should be showing up ANY day, now. YIPPEE! Good times, eh?

    So the righties have now got just what they want, an Ayn Rand PSYCHOPATH running everything. Happy with those tariffs, tax cuts and outright corruption working for the 1% and NOT for anyone else? Happy paying tens of millions for your boy to go golfing? Happy to get SHIT on by the highest office in the land? Happy to be paying MORE than the 1% just to survive? What the flying HELL is wrong with you shit heads? Honestly, what the fuck is wrong with you?

  29. The capitalist are using the working class to “welfare” their wealth. Reverse socialism. Working class Americans are subsidizing the rich and their agenda and policies to keep the working class regardless of race or religion or party, subsidizing their socialist wealth

  30. We been reducing taxes for the wealthy since Reagan. The tax cuts were never meant for the middle class. The middle class got the trickledown part, which doesn’t work. Ask David Stockman. We should stop listening to Milton Friedman and go back to Kensington economics.

  31. <—– Bitter, angry, and disgusted with rigged for the wealthy trickle down nonsense over here as well Farron! The voters are not dumb it is that the system has become so overrun with the bribes and the corruption it causes and caters to that fighting back against it is like pulling molars There needs to be a True progressive 24hr cable news outlet to compete and offer some truth for once to older voters that rely on the traditional tv news to stay informed about the issues. Right now it is just all right wing corporate line propaganda with little or no Progressive views or voices allowed. Our non tech savvy seniors are being kept in the dark! It is a big problem!

  32. I want to dedicate this video to every fucking idiot that uses the "but they are paying most of the taxes already" argument…

  33. I'm English, it's the same here, the richest are untouchable. They live amongst us but they have different rules and clever accountants, what i'm saying is, they cheat and milk the system.

  34. You talking to us?
    Anybody who believes a word of this hasn't got a job.
    If we make$26 an hour this year.
    We didn't have a job three years ago.
    When we made $14 an hour,we paid around 23 percent taxes all in all,state,fed, FICA.
    Now it's closer to 20 percent and we are being paid more.
    Rent is down,gas is cheaper,groceries are plentiful.
    We can afford health insurance.
    What's not to like about our country?

  35. Ohhh the Horror 😲
    People keeping more of their own money they made. Ohhh the Horror.

    I hate progressive taxes.
    So what everyone all citizens shouldnt have to pay more than 15% in total to the government.

  36. Republicans got what they really wanted. Taxing the poor to pay the rich. Reagan's "trickle down on steroids". The wealthy gone amuck. Throw in the recent college scandals and voila a class of people who feel themselves "above the law," The world is their oyster. Do as they please and nothing can be done about it.

  37. This happens every time a Conservative government are in power the poor pay more taxes whilst the rich and wealthy pay absolutely fuck all in taxes.

    And it’s the same here over the pound I’m England. The 9 years that this feckless Tory government have been in power and crushed the poor with their cruel austerity and as a result of this their are more wealthy families in Britain now than there was 150 years ago. And that isn’t me making up statistical fact. That is actually true. And these wealthy families pay 1% in tax and they get away with it whilst us hard working people pay our taxes because we work for an organisation or we are sealed employed.

    It’s the same very time a Conservative government are in powder either in the US or in the UK they fuck yo the country and the economy and even after 9 years in office they are blaming the previous government for their own incompetence and it is the same work Feckless Trump. He’s blaming Obama for his for his own incompetence.

  38. they might as well the modern aristocracy. When you have a system based on making profit why act surprised when those with more money and by extension more power start using said power to favor themselves. History has shown us this over and over again. if you want to stop this from repeating itself there has to be a system in place that distributes wealth equally.

    it's not entirely the fault of the rich. the success of any society are the people within it. if the masses of people allow this to happen, even when they do nothing, they are still responsible.

  39. We need a VAT!
    Vote Andrew Yang 2020 at your state's Democratic primary Election!

    https://www.yang2020.com/policies/

  40. and there are still idiots who will claim that the rich do pay more in taxes because they don't know how percentages, tax attorneys, and tax shelters work. defending rich people as if they would ever see that kind of money in their lives…

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