Re:Millionaires' Effective Tax Rate Has Been Cut by Half Sin...
by Ancapistani on Tuesday April 16, 2024 @10:12PM
(#40059692)
Of course it does.
It’s comparing the effective tax rate of someone who made $1m 1945 dollars against someone who made $1m 1980 dollars, and implying that the same should apply to someone who makes $1m 2024 dollars.
$1m in 1945 had the same purchasing power as $4.6m in 1980 - or $17.4m in 2024.
Those are not at all the same socioeconomic classes.
It’s comparing the effective tax rate of someone who made $1m 1945 dollars against someone who made $1m 1980 dollars, and implying that the same should apply to someone who makes $1m 2024 dollars.
$1m in 1945 had the same purchasing power as $4.6m in 1980 - or $17.4m in 2024.
Those are not at all the same socioeconomic classes.