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If data scientists were hired by the IRS to go after the rich who dont pay their fair taxes, the national debt would be paid off in a few decades.

30 trillion dollars estimated national debt. That's decades of compounding interest plus debt. New OMB-CEA Report: Billionaires Pay an Average Federal Individual Income Tax Rate of Just 8.2% (source: wh.gov) The U.S. currently has seven federal income tax brackets, with rates of 10%, 12%, 22%, 24%, 32%, 35% and 37%. If you’re one of the lucky few to earn enough to fall into the 37% bracket, that doesn’t mean that the entirety of your taxable income will be subject to a 37% tax. Instead, 37% is your top marginal tax rate. So if billionaires are paying 8% when they're supposed to be paying 37%, how much money does that come out to? What are the effects long-term of that kind of 1/3 savings of taxes? The reason we have graduated income brackets is related to a very basic premise of money: the more you have the more you can earn.…


30 trillion dollars estimated national debt. That's decades of compounding interest plus debt.

New OMB-CEA Report: Billionaires Pay an Average Federal Individual Income Tax Rate of Just 8.2% (source: wh.gov)

The U.S. currently has seven federal income tax brackets, with rates of 10%, 12%, 22%, 24%, 32%, 35% and 37%. If you’re one of the lucky few to earn enough to fall into the 37% bracket, that doesn’t mean that the entirety of your taxable income will be subject to a 37% tax. Instead, 37% is your top marginal tax rate.

So if billionaires are paying 8% when they're supposed to be paying 37%, how much money does that come out to?

What are the effects long-term of that kind of 1/3 savings of taxes?

The reason we have graduated income brackets is related to a very basic premise of money: the more you have the more you can earn. If I'm a billionaire earning 1% of my money in a bank account, I'm making much more money than you earning 5% in yours. Without a graduated tax bracket, wealth can continue to balloon.

The truth is that what's fair for a wealthy person to pay is more than what's fair for a poor person to pay and that should be obvious.

And yet the wealthiest people pay less. 8.2% is lower than the lowest tax bracket we have.

That's an imbalance mathematically; it will continue to drain wealth from the poor and accumulate it among the rich.

So the obvious answer is to solve the problem through regulatory bodies. The IRS is supposed to tax the wealthy.

30 trillion dollars that continues to rack up while the most privileged weasel out of their obligations to the civic ladder they used to climb so high.

Biden has proposed a 39% tax rate for the wealthy. What good to raise the floor again if tax loops are used to reduce it back down below 10%?

The best and brightest data scientists this country can produce should be given the cushiest of jobs tracking down the wealth our government needs to function. Those new roads and well funded schools we need built.

I'm starting to feel like there are no adults in the room. I'm 40 and I've been waiting my whole life for people to do this bare minimum. Is it going to take another generation before someone puts the peanut butter and the jelly together and makes the sandwich?

Data scientists. In the IRS. Analyze and digitize and modernize.

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