For the first time on record, the 400 wealthiest Americans paid a lower tax rate (nytimes.com)

Article summary

The article reports that the 400 wealthiest Americans paid a lower tax rate than ever before, with some commentators noting that the effective tax rate for the wealthy has decreased significantly over the past 70 years. The article's findings are based on a graph showing tax rates on the wealthy dropping from 70% to 23%. However, the article's content is not available, and the discussion is based on the comments. The comments reveal a debate about the accuracy of the tax rates and the impact of exemptions, deductions, and credits on the effective tax rate.

Main themes

• tax rates
• wealth inequality
• government accountability
• conspiracy theories
• economic policy

What commenters say

• The effective tax rate for the wealthy has decreased significantly over the past 70 years, with some arguing that this is due to a lack of exemptions and deductions in the past.
• The nominal tax rate is not an accurate representation of the effective tax rate, as the wealthy often take advantage of exemptions and deductions to reduce their tax liability.
• The idea that the wealthy do not pay their fair share of taxes is a myth, and the tax system is designed to allow the wealthy to minimize their tax liability.
• The government's lack of transparency and accountability in its financial dealings is a major concern, with some arguing that this lack of accountability leads to waste and corruption.
• The claim that the Pentagon's accounting wing was destroyed on 9/11 is a conspiracy theory with no basis in fact, and the missing funds announced by Rumsfeld were likely due to poor auditing and tracking rather than nefarious activity.
• The US government's financial dealings are often opaque and difficult to understand, leading to speculation and conspiracy theories about the use of funds.
• The wealthy often use loopholes and deductions to minimize their tax liability, and the tax system should be reformed to prevent this.
• The discussion around tax rates and government accountability is often polarized and influenced by ideological biases, making it difficult to have a nuanced and informed conversation.