No. of Recommendations: 8
Other than the part about it not counting in the US tax code and not how we do things, sure, he's correct.
But that's the entire point he was making. It's an argument for changing how we do things, because the US tax code currently allows nearly all of the earnings that billionaires accumulate to escape taxation.
Is it "fair" that a relatively small number of people pay almost all of the taxes in this country?
It wouldn't be if that were true....but it's not. One of our major taxes is very progressive - the U.S. federal income tax. Most of our taxes are far less progressive, and many are regressive (FICA, sales taxes, property taxes, etc.). Which is part of the reason why the federal income tax is designed to be especially progressive - but the federal income tax isn't the only tax, and doesn't even make up the majority of taxes that are paid in the U.S.
