Bill Maher unloads on America’s $5T tax monster: Vents that ‘almost 60%’ of his income goes to Uncle Sam (but the poor still suffer). Do you agree?

"Last week was Tax Day… I paid to the government, if you add in state tax, local, sales, property, fees, Obamacare, probably almost 60% of what I earn," Maher said (1). "That's a lot."

He then took aim at Sen. Bernie Sanders — and the broader argument that wealthy Americans aren't paying their fair share.

"I still wouldn't mind if Bernie Sanders would stop saying the rich don't pay taxes," he quipped.

Maher acknowledged that the "super rich" may be a different story, saying those with "their army of accountants and corporate loopholes" can often find ways to shrink their tax bills. But he argued that "regular rich people" are already carrying a heavy burden.

"The top 10% pay 72% of all federal income taxes, and the bottom half, 3%," he noted.

Some of the biggest earners do pay their fair share of federal income taxes in America. According to IRS data analyzed by the Tax Foundation in 2022, the top 10% earned 49.4% of adjusted gross income in 2022 and paid 72% of federal income taxes (2). The bottom half of taxpayers paid 3% of total federal income taxes.

Maher said he isn't opposed to social programs, listing Social Security, unemployment insurance, Medicare, nutritional assistance, Medicaid, Obamacare, disability benefits and housing subsidies.

But he questioned why so many Americans still appear to be struggling if the government is already collecting — and spending — so much money.

"Again, not against it," Maher said. "Just the same question: How can you be soaking the rich and failing the poor so badly?"

He pointed to Remote Area Medical, a nonprofit that provides free medical, dental and vision care through pop-up clinics, as an example of the gap between government spending and real-world need. At some clinics, patients line up for hours — or even camp out overnight — to receive care.

"How can it be that the federal government alone took in over $5 trillion in taxes last year and we still need that?" Maher asked. "Are we really this incompetent and corrupt?"

The federal government collected a record $5.235 trillion in receipts in fiscal year 2025, while spending $7.01 trillion — leaving a $1.775 trillion deficit (3). In other words, Washington is taking in trillions, spending even more, and yet many Americans still struggle to afford basic health care.

Maher: 'The ultra rich keep getting ultra richer'

Maher's broader point wasn't that poverty is exaggerated, or that wealthy Americans should be ignored. In fact, he said "the ultra rich keep getting ultra richer," while a growing share of Americans feel "truly desperate."

But that contrast points to a deeper divide in the tax debate: income and wealth are not the same thing.

The richest Americans — especially billionaires — often build their wealth through assets, not wages. As the value of these assets rises, their net worth grows. However, the U.S. tax system isn't designed to fully capture those gains. Capital gains are typically taxed at lower rates than regular income and taxes aren't owed until the assets are sold.

According to a report from ProPublica, some billionaires in the U.S. paid little or no income tax relative to the vast fortunes they've amassed (4).

In fact, as NYU Stern professor Scott Galloway once put it, if you're trying to build wealth, you have "an obligation to pay as little tax as possible."

One asset class America's wealthy have relied on for decades is real estate — in part because of the generous tax treatment it receives.

When you earn rental income from an investment property, you can claim deductions for a wide range of expenses, such as mortgage interest, property taxes, insurance and ongoing maintenance and repairs.

Real estate investors also benefit from depreciation — a tax deduction that recognizes the gradual wear and tear of a property over time. Investors can also use tools like refinancing and 1031 exchanges to keep their capital compounding instead of cashing out.

Today, you don't need to be a millionaire — or even to buy a single property outright — to invest in real estate. Crowdfunding platforms like Arrived offer an easier way to get exposure to this income-generating asset class.

Backed by world-class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants.

The process is simple: browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase and then sit back as you start receiving any positive rental income distributions from your investment.

As of November 2025, Arrived has already paid out more than $19 million in dividends to over 900,000 registered investors.

Another option is Lightstone DIRECT, which allows individual investors access to high-quality, private-market real estate.

Lightstone DIRECT's direct-to-investor model ensures a high degree of alignment between individual investors and a vertically-integrated, institutional owner-operator — a sophisticated and streamlined option for individual investors looking to diversify into private-market real estate.

With Lightstone DIRECT, accredited individuals can access the same multifamily and industrial assets Lightstone pursues with its own capital, with minimum investments starting at $100,000.

Keep more of what you earn

The wealthy don't just focus on what they invest in — they also pay close attention to where those investments sit. Using tax-advantaged retirement accounts can be a powerful way to keep more capital compounding over time.

For instance, traditional IRAs and Roth IRAs allow investments to grow either tax-deferred or tax-free, depending on the account type.

While many retirement accounts primarily hold stocks and mutual funds, some investors choose to diversify further. Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates, has repeatedly warned that many portfolios lack one key safe-haven asset: gold.