![](https://i0.wp.com/shacklemedia.com/wp-content/uploads/2021/09/billionaires-income-taxes-are-a-tiny-fraction-of-what-they-make-white-house-says-heres-their-average-tax-rate.jpg?w=640&ssl=1)
Billionaires sit on vast pools of money and assets, and only a tiny portion of their wealth goes toward federal incomes taxes — they’ve paid an average income tax rate of 8.2% over roughly the last decade.
That’s according to a new report from analysts at the White House’s Council of Economic Advisers and the Office of Management and Budget — and it’s another justification, they say, for increasing tax rates for the richest Americans and changing how capital gains taxation is applied.
From…
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