And there are loopholes that the rest of us can't take advantage of. The system is rigged. Since 1955, tax rates on the ultra-wealthy have plummeted. The average American pays about 14 and a half percent of their income in federal income taxes. Now the 400 wealthiest billionaires pay about half that. How is that possible? (00:30–00:36)
CLAIM
Asserts that tax rates for the ultra-wealthy have significantly decreased since 1955.
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