With Trump’s tax cuts, billionaires paid lower tax rate than working class for first time in US history: study

Billionaires paid less in taxes than the working class last year for the first time in U.S. history, a study found.

Economists Emmanuel Saez and Gabriel Zucman found in their book-length study "The Triumph of Injustice" that the average tax rate paid by the richest 400 families in the country was lower than the rate paid by the bottom half of American households in 2018.

The wealthiest 400 families had a 23 percent tax rate, compared to the bottom 50 percent, which had a 24.2 percent rate.

The richest 400 families experienced a 47 percent tax rate in 1980 and a 56 percent tax rate in 1960, while the working class's tax rate has remained relatively stable.

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