the staff of the Ridgewood blog
Ridgewood NJ, the Biden Administration keeps saying the most-inane things about how much taxes the rich pay which has for year been echoed by the “main street media” aka the Fake News The president himself claims that millionaires and billionaires pay a lower tax than a school teacher or a firefighter.” He says repeatedly that the rich pay tax rates of anywhere between 3 and 8% (sic). He wants new millionaire and billionaire taxes to level the playing field.
Well, maybe his millionaire son Hunter has found a way to pay a 3% tax rate, but the latest IRS statistics tell an entirely different story. The richest one out of 100 Americans now pay more in federal income taxes than the bottom 95 out of 100 and some of those “rich folks” live in Ridgewood . There is almost no country in the world that relies on the top 1% to pay a larger share of the tax burden than the United States. By the way ,notice that the tax share of the top 1% went UP after the Trump tax cuts.
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