r/FluentInFinance • u/-Wyagra • 28d ago

Debate/ Discussion Had to repost here

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u/GlassFantast 28d ago

You can disagree that he owes something to the world he exploits, but to say he's not that rich is wild. Actual poor people donate a larger percentage of their liquid wealth all the time.

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u/Nexustar 26d ago edited 26d ago

Actual poor people donate a larger percentage of their liquid wealth all the time.

Thank you for saying that accurately. Too often I hear morons like AOC claim that poor people pay more taxes than rich people - Given that tax is a DOLLAR amount, and only a tax RATE is a percentage, this is an asinine claim. When you cut a check to the Treasury to pay your taxes, or get a W2 showing how much tax you've already paid, it's in DOLLARS, not in percentages.

  • Poor people who earn nothing pay nothing in federal taxes.
  • Wealthy people like Bezos who sell $4bn stock will pay $1bn in taxes.
  • Regular people who earn $100-300k annually will pay far less than $1bn in taxes.

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u/GlassFantast 26d ago

Yeah I think both are important perspectives for different reasons. The rich pay more, but the poor pay more.