A sign featuring Jeff Bezos calls for taxing the rich in front of the U.S. Capitol in Washington, D.C., U.S., on Wednesday, Sept. 15, 2021.
Credit: Stefani Reynolds | Bloomberg | Gett
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  • The richest 400 Americans paid an average 8.2% federal income tax rate, which is “low” relative to other taxpayers, according to a White House report published Thursday.
  • That’s due to the tax treatment of investment income, like capital gains and dividends, the report said.
  • The analysis comes as Democrats try to raise taxes on the wealthy to fund up to $3.5 trillion in investments to expand the safety net and mitigate climate change.

The wealthiest 400 American families paid an 8.2% average rate on their federal individual income taxes from 2010 to 2018, according to a White House analysis published Thursday.

Those richest 400 families represent the top 0.0002% of all taxpayers, according to the White House report.

Their estimated tax rate, paid on $1.8 trillion of income over the nine-year period, is “low” relative to other taxpayers, according to the report, which was authored by economists in the Council of […]

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