It depends how you define “billionaire”. They may not actually make a billion dollars in income annually. With that said:
Even if you drill down to the top 400 wealthiest taxpayers — data that was publicly available on an annual basis until President Donald Trump killed the report — they paid an effective tax rate of 23.1 percent in 2014. These taxpayers — with $127 billion of income — that year paid $29.4 billion in income taxes, or more than 2 percent of all income taxes, the IRS said.
Makes sense. A lot of billionaires assets are on paper, as in stocks. And the stock is effectively worthless until you sell for tax purposes. That said that is a huge difference, however I think the estimate is 11 or 12 million Undocumented in the US. Obviously not all are working.
Is that more than the billionaires?
It depends how you define “billionaire”. They may not actually make a billion dollars in income annually. With that said:
https://www.washingtonpost.com/politics/2024/01/23/biden-keeps-saying-billionaires-pay-8-percent-taxes-not-really/
Makes sense. A lot of billionaires assets are on paper, as in stocks. And the stock is effectively worthless until you sell for tax purposes. That said that is a huge difference, however I think the estimate is 11 or 12 million Undocumented in the US. Obviously not all are working.