"Thanks to tax cuts, creative accounting, off shore holdings, and many other loopholes we couldn't imagine, billionaires pay less in percentage than the middle class does."

You need to educate yourself gurrfrend:

Lemme guess, you're one of those idiot fanbois in favor of taxing unrealized capital gains.

"Every time people point out what percentage of total income taxes are paid by the top 20% it correctly gets pointed out that this country has all sorts of other taxes, including property and sales taxes, that have to be paid."

Dude, wanna know who doesn't pay federal income taxes? It's people making less than $46k per year. The average bracket for that group is 3.3%.

In Sweden, it would be 33%.

"What "news" outlet told you income taxes don't start until after $47,000?"

'Tis all in the article I posted.

"Unrealized capital gains should be taxed, past some extreme high threshold that most of us will never surpass."

Out of sheer envy?

Would you stop taxing realized capital gains?

Would the government reimburse people for unrealized capital losses?

Real-World example. I bought Peloton in 2020 at $48 per share. It peaked at $151 per share. Some kid got sucked under a Peloton treadmill, and the share prices plummeted. I sold at $38. Today it trade at $3.84 per share.

Had I bought a million shares at $48 ($48M), in December of 2020 I would have held $151M is what you would refer to as unrealized capital gains. Had I been taxed, let's say 10%, my tax bill would have been $10.3 million. So I pay it. A few months later, the value of my investment is worth $38 million, and I sell. Would I get that $10.3 million I paid in unrealized capital gains back?

And the bill for billionaires would be much larger than advertised. Billionaires don't have billions sitting in a checking account, which means they would have to sell off some of their assets, presumably having to pay taxes on that, since they would now be realized capital gains.

"Sorry MB, I looked at both things you posted and saw nothing about folks making $47,000 and not paying income taxes."

Yeah...I posted the wrong thing. Table 1.

"What do you do, monitor the DR until a thread about income inequality gets posted and you jump in to cheerleader for the wealthy?"

I don't know why you are so desperate to make the rich poorer. It's not like you're going to get anything out of it, other than maybe the satisfaction of making someone poorer.