by gottorf | 2025-12-31 02:46:26+00:00
> when the most wealthy society in the history of the planet has half of it's people barely scraping by

Real median household income has been steadily rising over the past few decades; it's up nearly 20% over the past 20 years[0]. American median disposable income is the highest in the world[1] that isn't a tax haven or a petrostate. Mississippi, often panned for its poverty, has a higher median household income than Germany, often considered the strongest European economy.

Now, you might point out that the CPI gets fudged in a way that doesn't fully capture the costs of living that these figures are adjusted for; I'm sympathetic to that argument, but the numbers are what they are, and the numbers do not support your claim that half of America is "barely scraping by".

> while a tiny elite hoard orders of magnitude more wealth than they can spend in a lifetime

I'm not sure what your operating definition of "hoard" is. There are no Scrooge McDuck vault full of gold coins. The ultra-rich's net worth is based on ownership of companies that often times were founded by them (granted, some people inherit, though not as many in the US as in more egalitarian nations[2]), and is a fictitious figure based on the number of shares they own multiplied by the last-traded price per share. There is no world in which they could actually liquidate those shares to get the number of dollars that are thrown about.

And those companies are almost always publicly traded and owned by heaps of other people, retirement funds for middle-class workers, and whatnot; and generate value to the purchasers of the goods and services they provide. I'm not sure where in this picture comes hoarding.

> Warren Buffet pay lower rates than their secretaries

Warren Buffett paid $23.7M in federal income tax alone over five years[3]. A hypothetical secretary living in Omaha, NE making $300k would have paid $69k in federal income tax in 2025, with another $30k or so in payroll and state taxes. In five years, Buffett paid to the federal treasury alone 237 years worth of income, FICA, and state taxes that this well-paid secretary would have!

Besides, when publications talk about "lower rates" of the ultra-rich, they're always comparing taxes paid on their income against the rise in the valuation of the stock that they own. It's comparing apples and oranges to come up with sensational figures.

> the wealthy are most definitely not paying enough taxes to support the society that enabled them to earn their wealth

The society that is a necessary but not sufficient condition of earning that wealth.

> focusing only on specific federal taxes and ignoring the TOTAL tax burden

Are you claiming that there exist some other taxes through which the working masses are shouldering above their "fair share", whatever that may be, of the burdens of maintaining a functioning society? What taxes are those, exactly? Do you think if you added up all the sales, property, income, FICA, estate, etc. ad nauseam taxes that the average American pays, we'll actually discover that the unsung hero of taxation is someone making $50k a year?

Some estimate that the average American will pay roughly half a million dollars of taxes of all kinds through their lifetime, out of a lifetime earnings of about a million and a half[4]. So Warren Buffett in five years of federal income tax alone (not counting any other taxes he paid) paid as much as almost fifty average people would have over their entire lives in any taxable domain. Jeff Bezos over the same five years, nearly two thousand average lifetimes' worth. To me, it's hard to make the argument that the likes of Buffett and Bezos aren't paying enough.

> a simple sense or empathy, ethics, and fairness can be your guide

Countless millions of people have been immiserated by those preaching empathy and fairness, just in recent history. I prefer to deal in what works in the real world to enrich the lives of the average among us; and as it turns out, systems that let rich people be result in better median outcomes than systems that confiscate and punish.

What is your fair share? Moreover, what is your fair share of what somebody else worked for? How much of the earnings of a waitress, plumber, doctor, Fortune 500 exec, and Elon Musk is due to you, personally, as your empathic, ethical, and fair share?

[0]: https://fred.stlouisfed.org/series/MEHOINUSA672N

[1]: https://en.wikipedia.org/wiki/Median_income#Median_equivalis...

[2]: https://pages.github.coecis.cornell.edu/info2950-s23/project...

[3]: https://www.propublica.org/article/the-secret-irs-files-trov...

[4]: https://www.self.inc/info/life-of-tax/