Wednesday, August 26, 2020

Who pays the lowest taxes in the US?

When you look at all the different taxes, the combined effect results in the US almost having a flat tax overall, with the super rich paying the smallest percentage of tax to income.

There's a common myth about who pays their fair share, and who doesn't.

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You might have heard that the poor in America barely pay any taxes. And if you look at a chart of how much every American pays in income taxes, that seems basically true. But income taxes are just one type of the many taxes we pay. So what happens if we add them all up? A new analysis by the economists Emmanuel Saez and Gabriel Zucman did exactly that. And it shows that the American tax system might not be as "progressive" as many people believe.

Read more about that analysis in an op-ed Saez and Zucman wrote for the New York Times:

All of their data, which we used to produce this video, is available on their website:

Their full research is presented in their book, the Triumph of Injustice:

And if you want to watch a bunch of economists debate this research (economists got very fired up about this!), watch this video:

But if you don't want to watch this long debate, Vox's Matt Yglesias explains what it's all about:

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