“I can’t see where a man makes $50,000 a year pays as much taxes as somebody that makes $300,000 a year.”
If a $300,000 per year guy earned 100% of his income in capital gains, and was taxed at the 20% capital gains rate, he would pay $60,000 in federal income tax on his gross income. A $50,000 earner taking the standard deduction is taxed at a 15% rate. Assuming the entire $50,000 is taxed at 15% the most he could pay is $7,500 in federal taxes.
It is hard to conceive of a scenario where someone earning $300,000 per year pays less taxes than someone earning $50,000.
It's probably related to that liar, Warren Buffett, and his lie about his secretary.