New Study Shows Wealthiest Americans Pay 24% Average Tax Rate, Below Official Figures
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9mo ago· 5 min readenInsight
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Summary
A new economic study reveals that the wealthiest Americans pay an average tax rate of just 24%, significantly lower than the official 34% figure reported by the Joint Committee on Taxation. The research, conducted by prominent economists, shows this rate has declined markedly in recent years and will remain low due to policies implemented during the Trump administration. The study provides concrete data on tax disparities among the Forbes 400 richest Americans.
Key quotes
· 3 pulledThe richest of rich Americans pay an average tax rate of 34 percent, higher than any other cohort's
The average rate that the richest Americans pay, they find, sits at just 24 percent
That number has fallen markedly in recent years and will remain low for the foreseeable future, thanks to Donald Trump
A clever new paper puts concrete numbers to the taxes paid by members of the Forbes 400.
