every day. it s expensive to be broke, right? you re paying for so many things that cost you extra because you don t have a lot of money. can you talk about the way sort of the tax burden actually really does fall in weird different ways because of sales taxes and others on working people, no? absolutely. sales taxes are something that, you know, people, every time the income tax is talked about and wealthy people say you must not do that, they don t realize that sales taxes take a much bigger bite out of the incomes of poor and middle class people than they do out of wealthy people. elon musk doesn t his sales taxes are a rounding error and the rounding error of rounding error. it doesn t occur to him but poor people and middle class people pay a lot in terms of their typical dollars going to sales taxes or so-called simm taxes. there are so many taxes we pay. we may not realize it. i mean, look at the tax on your
for the first time in the months that democrats have been negotiating, kyrsten sinema has come out in support for the build back better plan as they announced the corporate minimum tax plan that would report more than $1 million in profits to pay a 15% tax rate. sinema said this represent as common sense step for the highly profitable corporation that can avoid the current corporate tax rate just as everyday arizoians and small businesses do. all right then. nothing is definitive. democrats are likely to move forward with this plan as well as a billionaire tax, that tax would affect 700 taxpayers aplaying to people that have at least $1 million in assets or make $100 million per year for three years in a row. it calls on taxes on the increased value of their assets
there s a reason the only time donald trump ever paid taxes was when he worked for the same company that i worked for, he worked for nbc and had a w-2. that s the only time he paid taxes. worked for nbc, right? what did you say? i said the [ laughter ] obviously, is if you were donald trump or you re elon musk or you re jeff bezos, basically, don t register that you have any income at all and by the way, this is the same thing big corporations are doing because absolutely. amazon last two years, amazon has basically said to its shareholders it s got $45 billion a year but it pays a tiny little exactly. percentage of that in taxes because it manipulates the tax code. it is a great conversation. i wish we could spend longer but we re literally out of time. they said stop, stop, we got to go to commercial to pay for all
money. well, the reality is they ve got to put their money somewhere. they could put it under their pillow but doesn t return much of a return under their pillow so they re going to go into the stock market and go somewhere with their money. that s really a red herring. you tweeted earlier that if you could afford to go to space, you re like hear me out, if you can afford to go into space for 30 minutes on a space tourism thing, you can probably afford it in taxes, last year according to cnbc the top 1% dodged $163 billion in annual taxes. that s an estimate by the treasury. when that money isn t collected, somebody still has to pay for the things that we do in this country. who ends up making up for it? well, that s a very important point because you and i and other people who are not billionaires, we are the ones who have to pay the taxes that the top people don t pay. i mean, with elon musk, for example, who earned, what was
democratic party to uphold democratic norms single handedly. yeah, indeed. indeed. aaron haynes, stewart stevens, michelle goldberg. thank you-all very, very much. tony morrison was the greatest novelist in american history, period. i ll leave that there. up next on the reidout getting the very richest americans to pay their fair share of taxes. also, mo brooks says it wasn t me but maybe it was my staff. classic washington butt covering as more becomes known about his actions leading up to the capitol insurrection. plus, a stunning report on sexual assault at liberty university and how administrators threaten to punish students who reported being raped. tonight s absolute worst, allowing dangerous information to be spread to passfy the orange baby in the white house. the reidout continues after this. the reidout continues after this