#gabrielzucman

Mother Jones | Why Billionaires Pay Much Less Tax Than the Average American by Gabriel Zucman AI generated summary, Read the full article for complete information. Jeff Bezos recently argued that billionaires already pay a large share of U.S. taxes, but research by economists Gabriel Zucman, Emmanuel Saez and others shows this claim is misleading: when all federal, state and local taxes—including payroll, sales and excise taxes—are considered, the effective tax rate for all income groups is roughly 25‑30 percent, with billionaires actually paying the lowest rate (about 24 percent in 2018‑20 and as low as 15 percent for Bezos in 2018). The working‑class bears a substantial tax burden through regressive taxes, while the ultra‑wealthy can structure their income to minimize liability, a trend that intensified after the 2018 Tax Cuts and Jobs Act, reducing billionaire tax contributions and expanding wealth concentration—today the richest 0.00001 percent own wealth equal to 14 percent of national income, up from 4 percent in 1910—highlighting a growing fiscal anomaly that calls for reform. Read more: https://www.motherjones.com/politics/2026/05/why-billionaires-pay-less-taxes-zucman-saez-jeff-bezos-irs-breaks-income-wealth/ #JeffBezos #EmmanuelSaez #GabrielZucman #incomeinequality #taxes

The Guardian | Wealth of Britain’s 157 billionaires now equal to 22% of country’s GDP by Amelia Hill AI generated summary, Read the full article for complete information. Britain’s 157 billionaires now control just under £670 billion—more than 22 percent of the nation’s GDP—a five‑fold increase since 1990 that the Equality Trust labels “ghost GDP” to illustrate how headline economic growth is increasingly disconnected from everyday life. While politicians point to rising GDP as evidence of a thriving economy, analysts such as Priya Sahni‑Nicholas and economist Gabriel Zucman argue that macro‑level indicators no longer reflect income gains for most people, citing the surge in wealth among the super‑rich and corporate tax‑avoidance tactics that inflate growth figures. The data show that the richest 50 families now possess more wealth than the poorest 34 million Britons combined, and that workers have endured the longest pay squeeze in living memory, highlighting a widening gap between wealth creation and broad‑based prosperity. Read more: https://www.theguardian.com/inequality/2026/may/15/wealth-britain-billionaires-gdp-rich-list-inequality #EqualityTrust #PriyaSahniNicholas #GabrielZucman #SundayTimes #Ireland #Britain #UK #business #economicgrowthgdp #economics #incomeinequality #inequality #poverty #richlists #society #thesuper_rich #PriyaSahniNicholas