Debt ceiling hypocrisy: US boosts military budget while restricting food stamps for poor
Geopolitical Economy Report
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Why the U.S. Government Spends Twelfths of Dollars on the Rich
In 1960, the 400 richest families in the United States paid up to 56% in taxes. By 1980, that figure had fallen to just 40%. And as of 2018, it was 23%. So if you want to know why there is such a massive national debt in the U.S., it's very easy to explain why the rich don't pay taxes. They pay fewer and fewer taxes while the tax burden actually is increasing on poor and working people," he says.
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