Tax Rate for Ultrarich Drops Dramatically Per GOP Cuts | Drudge Retort

Friday, August 29, 2025

Tax Rate for Ultrarich Drops Dramatically Per GOP Cuts

The effective tax rate for the wealthiest 0.0002 percent of Americans " a group that corresponds roughly to the billionaires on the famous Forbes 400 list " fell from 30 percent to 24 percent after the 2017 GOP tax cuts, which were extended last month by Congress in Trump's "big, beautiful bill."

Posted by Corky at 08:30 AM | 34 COMMENTS | permalink

Comments

"The effective tax rate for the U.S. population as a whole is about 30 percent, and for people with the top salaries, it's about 45 percent.

But for the 100 wealthiest Americans, it's 22 percent, according to a study published Monday by the National Bureau of Economic Research."

;;

"The centerpiece of the 2017 Trump tax cuts was the reduction of the corporate tax rate from 35 to 21 percent, a change that made a big difference for the billionaire class.

"Out of the top 400's effective tax rate of 23.8 percent, about 9 points comes from the corporate tax," Zucman and his coauthors found."

No one could have predicted that the Billionaire President would cut the most taxes for himself and his Campaign donors!

MAGA is shocked I tells ya... shocked!!

#1 | Posted by Corky at 2025-08-27 02:04 AM

@#1 ... The effective tax rate for the U.S. population as a whole is about 30 percent, and for people with the top salaries, it's about 45 percent.

But for the 100 wealthiest Americans, it's 22 percent, according to a study published Monday by the National Bureau of Economic Research." ...

And, to try to pay for that Trump Deficit (emphasis on "try to pay for"), the Republicans have voted to cut food and medical aid to workers who strive to make endsmeet.

#2 | Posted by LampLighter at 2025-08-27 02:52 AM

Meanwhile.

25% of all of America's debt was incurred during Trump's first term office.

And considering how much he's spending on military parades, golfing, and paying the National Guard to do nothing in Washington DC, he's well on his way to out spending his first term in office.

Tax cuts for the extremely wealthy should help pay for it.

#3 | Posted by ClownShack at 2025-08-27 03:05 AM

#4 | Posted by C0RI0LANUS at 2025-08-27 04:35 AM

And YOUR taxes have dramatically increased due to tariffs

Thanks magat scum

#5 | Posted by truthhurts at 2025-08-27 07:17 AM

Taxes for the middle class go up 15% thanks to tariffs.

Taxes for billionaires go down.

That was always the plan.

Yet the poorest most welfare dependent red states and counties vote for it over and over and over.

"I love the poorly educated" is not the compliment you dummies think it is.

#6 | Posted by Nixon at 2025-08-27 08:50 AM

Your racist sensibilities were PLAYED like a fiddle.

#7 | Posted by fresno500 at 2025-08-27 09:04 AM

Remember no tax on tips? That expires in a little over three years. A waitress making $25K will save about $20 a week.

Meanwhile, the average billionaire saves over a million dollars a week.

And all the former screechers about deficits have gone dead silent.

#8 | Posted by Danforth at 2025-08-27 09:46 AM

It's almost like Billionaires bought them a White House and a Yuge Tax Cut... at the expense of everyone else.

Where are all the Trumpers to defend this?

#9 | Posted by Corky at 2025-08-27 10:33 AM

*4 hours later...*

Still no Trumpers want to defend this.

#10 | Posted by Corky at 2025-08-27 02:16 PM

" Still no Trumpers want to defend this."

They're waiting for Dems in power before they clutch their purses regarding the deficit.

#11 | Posted by Danforth at 2025-08-27 02:22 PM

They may be busy practicing clutching their purses and their pearls at the same time.

This is not easy when also covering their eyes and ears... if not their mouth, and hopping around on one foot.

#12 | Posted by Corky at 2025-08-27 02:31 PM

Duh. For as long as I can remember, the GOP has favored passive income over labor under the guise of "incentivizing investment and innovation."

Just another example of how the finance bruhs are killing this country.

#13 | Posted by jpw at 2025-08-27 02:54 PM

Aw, well.

The Thread That Frightened All the Rwingers Away.

Sad.

#14 | Posted by Corky at 2025-08-28 12:54 PM

I never knew rwingers were such COWARDS!

Why aren't they here defending Trump's Tax Cuts for Billionaires?

#15 | Posted by Corky at 2025-08-28 02:43 PM

I would assume that tax cuts for billionaires wasn't why most folks voted for Trump. that might be why there is no defense for it.

#16 | Posted by eberly at 2025-08-28 02:48 PM

"I would assume that tax cuts for billionaires wasn't why most folks voted for Trump"

Except they all stayed silent when the BBB borrowed $5 Trillion in new deficits to do it.

#17 | Posted by Danforth at 2025-08-28 03:00 PM

17

well, 90%+ of voters on both sides understand exactly zero about that.

so..I'm going to assume they are silent because they don't give 2 ----- about the $5 trillion.

The vast majority of Americans, despite what they post online, don't believe they are a party to that $5 trillion debt. It's someone else's problem.

#18 | Posted by eberly at 2025-08-28 03:06 PM

Ah, so.... people voting against their own economic interests so's they can own themselves a lib?

Makes sense to rwingers, I s'pose.

But then, everything Trump told them about cat-eating criminal immigrants and how his Big Beautiful Bill would benefit them, and almost everything else he claimed turned out to be lies.

Imagine that.

Instead of ending the war in Ukraine, he's enabled it. Rather than making America great again, he's made her a hostage to billionaires and his own personal National Guard and ICE Brownshirts.

Not to mention the worst Cabinet in history, and being the First Pedo President.

#19 | Posted by Corky at 2025-08-28 03:07 PM

Absolutely amazing evidence that proves we need to get rid of all tax loopholes, have a global use tax instead of income tax, and start taxing investments.

Oh wait, doing that would impact everyone and liberals are very quick to NIMBY that situation. They only want fixes that don't impact anyone in the Dem party.

#20 | Posted by humtake at 2025-08-29 11:53 AM

It's someone else's problem.

#18 | POSTED BY EBERLY

Welcome to the wonderful game of kick the can down the road.

There are a lot of reasons why it might not be MY problem.

But I can guaranGawdamntee if (when) I die it's definitely not my problem.

It's the next generation's problem(and probably several generations after).

#21 | Posted by donnerboy at 2025-08-29 12:06 PM

The vast majority of Americans, despite what they post online, don't believe they are a party to that $5 trillion debt. It's someone else's problem.
#18 | Posted by eberly

I personally hold about $4k debt on my car.

So how much of that $5T is mine, is it more than $4k?

#22 | Posted by snoofy at 2025-08-29 12:16 PM

-There are a lot of reasons why it might not be MY problem.

to what degree it is any individual's problem....it's not understood and accepted as their problem. That's my only point.

#23 | Posted by eberly at 2025-08-29 12:33 PM

it's not understood and accepted as their problem. That's my only point.
POSTED BY EBERLY

How observant of you. You are not becoming woke are you? Don't make me report you to the Ministry of Truth.

There is lot of things Americans do not understand or accept as "their" problem. (Climate change for one easy example)

Americans elected a known sexual abuser and convicted felon who was impeached twice by congress and who incited an insurrection against his own government didn't they?

Yeah. It's not THEIR problem he suddenly became a Tyrant and a wannabe dictator who is now defying and undermining our democracy and the constitution.

Regardless. Now we ALL get to enjoy the FAFO.

Sic Semper Tyrannis.

#24 | Posted by donnerboy at 2025-08-29 12:45 PM

Why is this a big deal?

I was told, then looked it up, Clinton the had capital gain taxes of 20%.

And he balanced the budget didn't he?

#25 | Posted by oneironaut at 2025-08-29 01:15 PM

So how much of that $5T is mine, is it more than $4k?
#22 | Posted by snoofy

None of it, it's the governments.

Future tax payers, paying for the privilege to work in US will pay for it.

You only pay if you work.

#26 | Posted by oneironaut at 2025-08-29 01:18 PM

4 hours later...
Still no Trumpers want to defend this.
#10 | Posted by Corky

Are there Clinton defenders here?

I am pretty sure Clinton had a similar tax rate on capital gains.

#27 | Posted by oneironaut at 2025-08-29 01:20 PM

Are there Clinton defenders here?

Yeah. Trump. Why is Trump protecting Bill Clinton?

#28 | Posted by lee_the_agent at 2025-08-29 01:33 PM

The 24% tax rate isn't paid by all of them because of loopholes that allow all manner of nefarious tax dodges for the uber wealthy.

#29 | Posted by AMERICANUNITY at 2025-08-29 01:52 PM

Oneironut's whataboutism date from the 90's.

#30 | Posted by Alexandrite at 2025-08-29 01:54 PM

"You only pay if you work."

Not in a tariff system. You pay when you purchase, just like the importer on American soil.

#31 | Posted by Danforth at 2025-08-29 01:55 PM

#31 | Posted by Danforth

Trumpers are simply too stupid to realize the tradeoff they gleefully support: More costs for 99% of us.

My wife's cousins are Trumpers and farmers. They're super po'd now because the price of everything from fertilizer to farm equipment has skyrocketed while the price of the soybeans they planted fell below what they can make a profit on after China said "f this" and aren't buying U.S. grown soybeans.

#32 | Posted by AMERICANUNITY at 2025-08-29 02:57 PM

So, the net result of the Republican victory on 5 Nov 2024: The greatest transfer of wealth from the bottom to the top in American history, higher prices for consumer goods, decreased health surveillance in the food and cruise ship industries, increased problems in the American aviation network, less tourists and students bringing their money to the US economy, a rise in farm foreclosures, less scientists and researchers in the CDC, less forestry and national parks personnel to fight the wildfires or the drought in the southwest, a gutting of experienced USIC and FBI personnel to combat Russian, Chinese, and Israeli espionage, an out-of-control ICE hoovering up vulnerable brown-skinned people, social security accounts possibly exposed by DOGE, the elimination of JFK's USAID, a botched coverup of a massive international sex trafficking ring that certainly implicates Dummkopf Trumpf, decreased funding for Medicaid, wasteful use of US military personnel in domestic operations, and an increase in savage attacks by bloodthirsty Russia and Israel against their smaller neighbors.

#33 | Posted by C0RI0LANUS at 2025-08-29 03:37 PM

"You only pay if you work."

Not in a tariff system. You pay when you purchase, just like the importer on American soil.

#31 | POSTED BY DANFORTH

Foreign commie agitators obviously don't understand how our American tax and tariff systems works nor do they care. Especially this one. He just wants to find cracks in the system to exploit with his commie propaganda.

I hear Fox News hires foreign nationals who are good liars.

"Employment data shows that Fox News has sponsored foreign workers for both temporary H-1B visas and permanent employment-based green cards in the past."

That commie bastard would fit right in.

#34 | Posted by donnerboy at 2025-08-30 10:59 AM

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