I Asked ChatGPT What Would Happen If Billionaires Paid Taxes at the Same Rate as the Upper Middle Class

There are many questions that do not contain simple answers, either because they are very complicated or are default. One of these questions is what might mean that billionaires pay taxes at the same rate of the upper middle class, whose income begins, on average, about $ 168,000, depending on where you live.

Learn: I asked Chatgpt what will happen if billionaires pay taxes at the same rate of middle class

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Chatgpt Oracle may not be, but it can analyze information and provide trends and patterns, so I asked this about what could happen if billionaires are required to pay anywhere near the upper middle class. This is what he said.

For beginners, Chatgpt said that if billionaires pay taxes like the upper middle class, the government will bring a lot of money – perhaps Hundreds of billions of dollars every year. “This is because most billionaire owners do not earn their money from salaries such as workers from the top-class. Instead, they grow their wealth through investments-real estate stocks, and companies-which taxes are often imposed at much lower rates or are not subject to absolutely tax until the assets are sold.”

The billionaire entered greatly derived from the capital estimate, not wages. In other words, they earn money on their money through interest. Until now, the US tax law does not impose “unreasonable capital gains”, so until you sell your assets, you can collect millions in appreciation and not pay ten cents on them, and share them in ChatGPT.

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At the present time, many billionaires pay an effective tax rate around them 8 % or less, Thanks to the gaps and tax strategies. Meanwhile, the upper -medium living families that earn, for example, may pay 250,000 dollars about 20 % to 24 % of their tax income. (Keep in mind that the government does not apply a single tax chip to all income. You pay the tax in the layers, according to the tax department. With your income, the tax rate on the next layer of income is higher. So you pay 12 % on the first of 47,150 dollars, then 22 % on 4715151 dollars to 100525 dollars.

Therefore, if taxes are imposed on billionaires with the same rate Ton Among the revenues that can be used for things such as infrastructure, education or health care.

I wondered whether the imposition is taxes on billionaires that could have any kind of influence on wealth equality, as well. Although he will not put more money in the pockets of others, “it may increase confidence in the tax system, which indicates that the wealthy do not play with a different set of rules.”