Reported about 13 hours ago
In a recent inquiry to ChatGPT, the author contemplated the implications of billionaires paying taxes at the same rate as the middle class. The discussion revealed that while some misconceptions exist about tax rates, the real issue lies in how wealth and income are taxed differently. ChatGPT explained that billionaires use strategies to defer taxes on their growing wealth, leading to a significant disparity compared to ordinary workers. If billionaires were taxed more like the middle class, it could result in hundreds of billions in additional revenue annually, benefiting areas such as healthcare, education, and infrastructure, thus addressing economic inequality.
Source: YAHOO