• How the rich avoid paying taxes

  • Apr 26 2023
  • Length: 6 mins
  • Podcast

How the rich avoid paying taxes

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  • Summary

  • The richest in America don't make money like most Americans. Most people pay income taxes from a regular job. But many in the top 1% make money off their investments, like stocks, and pay capital gains taxes. While normal income has a maximum tax rate of 37%, long-term capital gains tops out at just 20%. Changing that rate, and some loopholes that benefit the wealthiest, is seen as one way to tax the rich.

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