(06-17-2021, 09:34 AM)The Real Marty Wrote:

(06-17-2021, 09:16 AM)HURRICANE!!! Wrote: Ok, Jeff Bezos made $1.7m as CEO of Amazon?  Do you think it's fair that (using the average), he pretty much paid a 3.4% tax rate on his AGI whereas the average person making 60K per year pays 22% on his AGI?

I'm not saying high income people or wealthy people don't pay a lot --- I'm just stating it's not fair in the long run.  Yes, I guess I support a flat tax on income if that's what it takes to have everyone pay something like 20% on their income.

I must admit that I'd like to know how much people like LeBron and Kevin Durant pay on their $40m salaries + endorsement income.

The highlighted part is not true.   I think you're again conflating wealth with income.  Those are not the same thing.  

In addition to that, it is not true that a person making $60,000 pays 22% in federal income tax.  In this case, you are taking the marginal tax rate and confusing that with the average tax rate.   A person making $60,000 pays 22% only on amounts over $40,526.  

Jeff Bezos paid $973,000,000 in taxes last year, on $4.22 billion in income.  That makes his average tax rate 23%, but his marginal tax rate was 37%, which is the top bracket.  

If you support a 20% flat tax, you will pay more tax and Jeff Bezos will pay less.