"Billionaires pay the lowest tax rate of any income group nationally, Price added. In Washington state, the richest pay 3% of their income on taxes, while the poor pay 18%, he said. (That’s according to a report by the Institute on Taxation and Economic Policy, a left-leaning think tank.)
“I think billionaires donate for various reasons, but it’s clear that giving away the equivalent of what’s in their couch cushions helps them avoid having to face steeper bills that would actually make a difference in solving systemic problems,” Price told MarketWatch."
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