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by imagist
3445 days ago
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Of course we would want that, but that's not what we get. The rich pay few taxes and the international rich pay even less, given they already have offshore tax havens by the nature of being from another country. Given a green card allows establishment of US companies which are exempt from some tariffs which are imposed on foreign companies, there's no reason to believe that giving the rich green cards will be a net gain for tax revenue. It is indeed sometimes a net loss. |
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They may pay a lower percentage of taxes on wealth gains than middle class or upper middle class, due to being able to delay income realization, lower capital gains taxes, and other means that are more accessible to the rich than the middle class or the poor.
But rich people still tend to pay more taxes than less rich people.