685327592

685327592 t1_iv206tu wrote

Most people don't pay much because they don't make much. Your numbers include people in school and retired. Working class people are paying taxes.

PS you still don't seem to understand that top earners and top taxpayers are totally different. The people paying high taxes are W2 earners like athletes and movie stars. People whose money is coming from stocks pay far less or even zero.

1

685327592 t1_iv1znss wrote

When you buy an index you're buying stocks with no research into the underlying companies. This only works if the market is working efficiently and prices represent all knowledge available to the market. If most money is invested passively then the market can't work efficiently anymore because most of the buying and selling pressure is divorced from the underlying fundamentals of a company. This allows active managers to buy or sell stocks that are priced incorrectly in order to beat the market.

5

685327592 t1_iv1w3rz wrote

That's just false. They routinely report no income. Even when they do report income it's peanuts compared to their actual wealth.

https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax

In some cases these Billionaires have even received credits meant for the poor:

https://www.businessinsider.com/jeff-bezos-claimed-tax-credit-for-children-propublica-2021-6

3

685327592 t1_iuyj43g wrote

Shutting down perfectly good nuclear plants is silly, but we also need to recognize most nuclear plants are either nearing their original designed lifespan or have already surpassed it. We need to be building new plants, not just keeping ones from the 1970s going forever.

19