A new study using IRS data shows nearly 40% of taxes paid by the 400 richest Americans (2018–2020) came from corporate income taxes. Economist Emmanuel Saez called it “the tax that billionaires pay at source.” The ultrawealthy paid 23.8% of their economic income in taxes, much higher than prior estimates that excluded corporate tax. The study, assuming shareholders bear full corporate tax burdens, offers a broader view of how the wealthy contribute. While corporate taxes are progressive, they also impact economic growth and average investors, raising debate over their role and future in tax policy.
Study: Corporate tax hits billionaires most
3 responses to “Study: Corporate tax hits billionaires most”
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