I think I saw a figure that the 0.1 percent in the USA on average pay 25% income tax after deductions.The Brown Wizard wrote: ↑Tue Sep 29, 2020 6:09 am I bet if you delve deep into the ulta wealthy you would discover how little they all pay in personal income tax.
For these people, every financial transaction is funneled through various tax shelters. Look at the Chef or any contractor who has figured out the value of paying a chartered accountant.
If youre paying out high personal income taxes every spring and self employed its time to find a better accountant
But those would of course be truly successful people.
Not con men from Queens with a history of bankrupcies and failed business

If you really can have profits of more than 400 million in a year (as Trump Publicly stated he did in 2017) and only pay USD 750 in taxes, the US tax system is fucked up beyond
If, on the other hand, his costs exceded his earnings by 47 million, as he claimed in his tax filings, it makes sense that he didn’t have to pay much.