FinancesStatistics

How the Super Rich Avoid Paying Taxes [INFOGRAPHIC]

This infographic is courtesy of Top Accounting Degrees.org.

If you’re one of the 1% of Americans who control over 40% of the country’s wealth, life is full of choices. Among them — how best to keep all that money away from the government? The U.S. economic system offers no shortage of loopholes allowing the ultra-rich to shortchange Uncle Sam.

Tax rates for those making >$1 million level out at 24%, then declines for those making >$1.5 million. Those making $10 million a year pay an average income tax rate of 19%. $70-$100 billion is the estimated tax revenue lost each year due to loopholes. So how exactly do the super rich hide that much money from the government every year?

 


Source: TopAccountingDegrees.org

Related Articles

Back to top button
Looking for Premium Content? Sign Up for CBNation+ (PLUS)START YOUR FREE TRIAL TODAY
+ +
Close
Close