Can we make the super-rich pay more tax?
The Inquiry
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The Wealthiest Pay More Than the Average Person
In the us, top marginal tax rate is 37 %. A billionaire taking a one dollar salary won't be taxed anywhere near that. Proceeds from selling investments like shares attract a charge called capital gains tax. Property transactions are also taxable. It means that if some one builds up their wealth without selling anything, then it won't be classed as income.
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