Tuesday, October 07, 2025

ChatGPT: What If Billionaires Paid Average Tax Rates?

It got me thinking, what if billionaires paid the same tax rate as the lower-middle class?

I asked ChatGPT and the answers revealed just how different our world could look if the richest Americans contributed at the same level as the lower-middle class.

Posted by Corky at 11:48 PM | 30 COMMENTS | permalink

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ChatGPT pointed out that if billionaires were taxed at the same effective rate as the lower-middle class, the U.S. government could collect hundreds of billions more each year.

That money could be used to reduce deficits, fund education, healthcare or even ease the tax burden on working families.

Comments

"My first thought reading this? It's not that billionaires would suddenly stop being billionaires.

They'd still be unimaginably wealthy, but lower-middle class families would finally feel like the system was a little ChatGPT explained that billionaires grow their wealth at lightning speed while paying relatively little tax.

;;

"If they were taxed like a household making $50,000 to $70,000, the gap between them and the middle class would start shrinking.

And honestly, this makes sense. Billionaires would still have private jets and mega-mansions, but the climb for the rest of us wouldn't feel quite so impossible."

"ChatGPT suggested it would force billionaires to rethink how they store and grow their wealth instead of just relying on loopholes and tax shelters."

;;

"This one surprised me. ChatGPT pointed out that if billionaires had less untouchable wealth, their ability to dominate politics, media and lobbying might weaken.

It's not that billionaires would suddenly lose all influence.

But they wouldn't have quite the same grip on shaping policies that often benefit them more than the average voter."

more at the link

#1 | Posted by Corky at 2025-10-07 11:57 PM

EDIT

"They'd still be unimaginably wealthy, but lower-middle class families would finally feel like the system was a little fairer.

ChatGPT explained that billionaires grow their wealth at lightning speed while paying relatively little tax."

#2 | Posted by Corky at 2025-10-08 12:00 AM

My first question ...

Why should billionaires pay "average" tax rates?

#3 | Posted by LampLighter at 2025-10-08 12:05 AM

Why shouldn't everyone pay the same rate on income no matter the source?

#4 | Posted by Corky at 2025-10-08 12:16 AM

I mean, the only reason they don't now is that they bribed politicians to give them different rates than FDR did.

#5 | Posted by Corky at 2025-10-08 12:18 AM

"And honestly, this makes sense. Billionaires would still have private jets and mega-mansions, but the climb for the rest of us wouldn't feel quite so impossible."

Why? Why would it feel more possible?

What taxes would we reduce on the guy making $75K?

What other benefits would that same guy realize?

#6 | Posted by eberly at 2025-10-08 12:23 AM

A worker earning the median income gets their income taxed at 22%

A rich person takes some money, puts it in the market, literally does nothing for a year, take it out, the rich person's profits get taxed as long term capital gains at 15%.

So you get taxed almost double by spending your time working, vs getting taxed on doing nothing and being rich.

And if the rich sell at a loss, they get to deduct the loss from their total income tax liability.

And you need to have enough money lying around to be able to invest it for a year, which again favors the rich.

#7 | Posted by snoofy at 2025-10-08 12:29 AM

"Why? Why would it feel more possible?"

You're asking why more money makes more things possible?

#8 | Posted by snoofy at 2025-10-08 12:31 AM

#6

More prevarication... it must be catching.

Could we get a 5 year old to explain this to Eb?

The playing field would be a bit more level.

#9 | Posted by Corky at 2025-10-08 12:32 AM

@#4 ... Why shouldn't everyone pay the same rate on income no matter the source? ...

My first guess on this topic is that working folk pay a significant part of their income for essentials, a.k.a. food and shelter.

#10 | Posted by LampLighter at 2025-10-08 12:37 AM

-More prevarication..

Questions you're incapable of answering is your prevarication at work, not mine.

#11 | Posted by eberly at 2025-10-08 12:37 AM

I answered it, as did Snoofy.

Even though it should have been obvious.

#12 | Posted by Corky at 2025-10-08 12:40 AM

You're so funny.

It's fine to want everyone to pay the same rate. I agree with that.

But I'm asking about how it actually helps joe 6 pack.

You really don't know. This is just about whining to you.

#13 | Posted by eberly at 2025-10-08 12:43 AM

-I answered it, as did Snoofy.

Speaking of prevarication ... ..

#14 | Posted by eberly at 2025-10-08 12:44 AM

-the climb for the rest of us wouldn't feel quite so impossible."

How would it feel not quite so impossible?

#15 | Posted by eberly at 2025-10-08 12:45 AM

It gives Joe a more level playing field on which to compete, as was mentioned... and less biased media in his ear.

#16 | Posted by Corky at 2025-10-08 12:46 AM

-It gives Joe a more level playing field on which to compete, as was mentioned... and less biased media in his ear.

You really don't have a clue? You're just making up platitudes.

You're a horrible liberal. You're the tard Charlie Kirk would pull up to the microphone to embarrass

You can't tie a single meaningful benefit to Joe from the increased tax rate on the billionaire.

#17 | Posted by eberly at 2025-10-08 12:49 AM

"less biased media in his ear."

Huh?

#18 | Posted by eberly at 2025-10-08 12:51 AM

"But I'm asking about how it actually helps joe 6 pack."

There's all kinds of ways.

For example, his kids wouldn't be the first generation of Americans to not do better economically than their parents.

#19 | Posted by snoofy at 2025-10-08 12:52 AM

"How would it feel not quite so impossible?"

Go talk to a person who has existed in the bottom 80% of the economy for the past forty years and you will get your answers.

#20 | Posted by snoofy at 2025-10-08 12:54 AM

"You can't tie a single meaningful benefit to Joe from the increased tax rate on the billionaire."

For starters, it would be revenue neutral to lower his tax rate, and put more money in his pocket.

#21 | Posted by snoofy at 2025-10-08 12:54 AM

Or, the added revenue could be spent on better roads, schools, etc. Things that improve the quality of life for all of us.

You must be on Ambien or something. Have a good night.

#22 | Posted by snoofy at 2025-10-08 12:56 AM

Clearly nobody can cite a real benefit for Joe.

Avoiding the reality that the answer is beyond them.

It's an important thing to understand

Maybe the 5 year old can help. You've admitted they understand it better than you.

I'm not going to answer for you.

I want everyone to pay the same rate as well.

Why? I have reasons. But you're embarrassing yourself with these moronic platitudes

I'll check back tomorrow.

#23 | Posted by eberly at 2025-10-08 12:57 AM

#17

Descriptions aren't arguments... do let us know when you find that 5 year old to make one for you.

Let's give you another hint though, since you are avoiding Snoofers post like the plague.

"If they were taxed like a household making $50,000 to $70,000, the gap between them and the middle class would start shrinking."

That you are blind to equal justice under the law being a significant factor in a competitive marketplace is truly... unsurprising.

#24 | Posted by Corky at 2025-10-08 01:02 AM

"I want everyone to pay the same rate as well."

You want long term capital gains to be taxed the same as labor income? That's going to take some convincing. It would cost rich people a lot of money. What about the whole argument that taxing long term capital gains is an inducement that encourages investment?

#25 | Posted by snoofy at 2025-10-08 01:03 AM

24

Do you realize how fukked you are when you're needing Snoofy to help you?

Anyway ... ..

"If they were taxed like a household making $50,000 to $70,000, the gap between them and the middle class would start shrinking."

And you can't say how. Because you don't know. You might as well say if we tax the rich more, ice cream tastes better.

#26 | Posted by eberly at 2025-10-08 01:08 AM

-That you are blind to equal justice

I'm literally the only one with their eyes open.

This is fun.

But I need sleep

#27 | Posted by eberly at 2025-10-08 01:09 AM

If rich people paid more in taxes, let's say on wealth earned, that money could be invested in national healthcare and education (things conservatives hate). It would increase and prolong social security. Be invested in rebuilding aging infrastructure and modernize the nation.

Hospitals and schools can be properly funded and equipped.

And that's just off the top of my head, let alone what ChatGPT came up with.

Unfortunately the transfer only goes one way.

The wealthy steal the profits of our labor and then steal our taxes to fund themselves.

For some reason, conservatives support this.

Because they can't seem to understand they're being taken advantage of.

#28 | Posted by ClownShack at 2025-10-08 01:21 AM

What taxes would we reduce on the guy making $75K?

If you provided the guy with health care and education for his kids, that would reduce this guy's expenses allowing that money to be spent elsewhere.

#29 | Posted by ClownShack at 2025-10-08 01:24 AM

The desperation of the MAGAT class would be funny if it wasn't so sad.

#30 | Posted by LegallyYourDead at 2025-10-08 03:20 AM

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