Breaking Points with Krystal and Saagar 6/10/21: Bezos Bailout, Billionaires Pay ZERO Taxes, Hellish Dem Future & More!
Jun 10, 2021
Brianna Joy Gray, former National Press Secretary for Bernie Sanders and co-host of Bad Faith, dives into the glaring tax inequities faced by everyday Americans compared to billionaires. She critiques the U.S. tax system and discusses the political implications of recent elections in Virginia, emphasizing a disconnect between Democratic elites and working-class voters. Gray also highlights the progressive struggle within the Democratic Party over key issues like Medicare for All and climate action, fueling a passionate discussion on political priorities.
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Wealthy Tax Rate vs. Average
- The wealthiest Americans pay a significantly lower effective tax rate than average earners.
- Their true tax rate is 3.4%, while the average American household pays 14%.
Bezos' 2011 Taxes
- Jeff Bezos paid no income tax in 2011 despite an $18 billion wealth increase.
- He even claimed a $4,000 tax credit for his children.
Failure of Progressive Taxation
- The progressive tax system doesn't apply to the wealthiest.
- For every $100 of wealth growth, they pay significantly less in taxes than average Americans.