If you think that ultra wealthy non W-2 people are paying their fair share, you are wrong. There are two classes of very wealthy people. Aaron Judge can represent the W-2 wealthy and Warren Buffett the non w-2.
Judge pays enormous amount of taxes. He is at the highest tax bracket in State and federal taxes. So 37% federally and 10% in NY. I am probably missing city tax as well. His effective tax rate is very high. Close to 50%
But Buffet makes his money of stocks which are taxed at capital gains rates. His effective rate is under 20% even though he makes more money than Judge. Some years under 1%. This should not happen.
Loopholes should be closed like the carried interest loophole. I am sure there are a ton of other loopholes but I am not tax expert that should be closed. Corporate rate tax should be increased. When we had surpluses that rate was at 35%. Now it’s 21%. I don’t think raising it to 25-28% is unreasonable.
People do work hard. Unemployment is under 4%. They just don’t make a lot of money. Median household income is like $70k a year.