Subject: Re: Biden's billionaire tax rate fact checked
They do. They pay a much lower proportion of their earnings in federal taxes than is typical,

I'm talking about the total percentage of federal income tax paid. The top 10% pay a very disproportionate amount.

Everyone else has to pay social security and medicare and income taxes on their wages and salaries; billionaires accumulate their wealth through appreciated assets.

FICA taxes are paid via wage deductions; technically if someone never has wages they never pay, yes.