this post was submitted on 27 Aug 2025
281 points (99.0% liked)

news

86 readers
771 users here now

A lightweight news hub to help decentralize the fediverse load: mirror and discuss headlines here so the giant instance communities aren’t a single choke-point.

Rules:

  1. Recent news articles only (past 30 days)
  2. Title must match the headline or neutrally describe the content
  3. Avoid duplicates & spam (search before posting; batch minor updates).
  4. Be civil; no hate or personal attacks.
  5. No link shorteners
  6. No entire article in the post body

founded 2 weeks ago
MODERATORS
dude
281
America's billionaires pay lower tax rates than you do, study finds (www.cbsnews.com)
submitted 1 week ago by dude to c/news
23 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] lmmarsano@lemmynsfw.com 1 points 1 week ago

Or read the paper and notice they found it's worse in Europe.

Interestingly, the top-end effective rates we obtain in the United States are higher than in Europe. In the Netherlands, Bruil et al. (2025) find an effective tax rate of less than 20% of economic income for the top 0.0001%, roughly the population of Dutch billionaires. Ring, Seim and Zucman (2025) obtain similar numbers in Sweden and Norway. In France, Bach et al. (2023) estimate an effective tax rate of 26% for the top 0.0002% in 2016 (vs. 30% for the top 0.0002% in our series pre-Tax Cuts and Jobs Acts). In Europe the individual income tax paid by billionaires is even lower than in the United States. As shown by Ring et al. (2025), this can be explained by the widespread use of personal wealth-holding companies, which allow ultra high-net-worth individuals in Europe to avoid the individual income tax, a technique heavily penalized in the United States since the 1930s.

Unless you're saying European countries are on their way, too? You might have a point.