Does the US have a FLAT TAX? | Do Billionaires pay the same as you?

Billionaires. Should They Exist? Politicians and content producers love to say they are bad for the economy.

Attempting to debunk so-called myths, Wired launched a video, "Economists Debunk Top 5 Billionaire Myths" putting forth some misleading claims. It was so riddled with errors that we had to bring in Professor Antony Davies, Associate Professor of Economics at Duquesne University, to respond.

As always, his insight was clear, logical, and backed up with data.

►► More from Professor Antony Davies:

LEARN LIBERTY:

[JeyC_]

We need voice of reason and truth now more than ever.
You don't stop the spreading of misinformation by censorship, you stop them with free speech and rational conversations

[shadowmancer]

They can't/won't/don't think. That's how.

[deborawilliams]

Neither one of your arguments provide any evidences to substantiate your claims. Give me numbers please

[BastiatC]

You compare total tax paid by income. Yes, the base rate of the income tax is progressive, but there's a host of means by which the wealthy can reduce their tax burden to counteract that, such as borrowing against their wealth to gain real income without needing to report it, not to mention other taxes like the payroll tax that fall heaviest on lower income earners, who pay the highest effect rate on their AND are most likely to have all their income from sources.