Mike Gibbons, the millionaire investment banker running for the United States Senate in Ohio’s Republican primary, says middle class Americans are “not really paying any kind of a fair share” in federal income taxes, a newly surfaced video reveals.
“Now the problem is, you need the middle class to win an election. So the narrative is, the middle class is getting screwed and the wealthy, the elite … are cheating everybody,” he continued.
In actuality, economists at the University of California, Berkeley have found that America’s wealthiest income earners now payThe economists found that, in 2018, the nation’s top economic elite are paying lower federal, state, and local tax rates than the nation’s working and middle class. Overall, these top 400 wealthy Americans paid just a 23 percent tax rate — a 47 percentage point reduction compared to what they paid, 70 percent, in 1950.
in 2021 — much thanks to economic lockdowns that gutted working and middle class income earners, as well as small and medium-sized businesses. Best-selling author J.D. Vance, also running for the Ohio Senate seat in the GOP primary, blasted Gibbons for the remarks.
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