Quote:
Originally Posted by Goofle
It does indeed. But it still strengthens my case that the highest earners pay vastly more into the tax system, especially proportionally.
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Problem is it's not a linear scale from poor to the 1%.
Not to mention that the uber rich hide a ton of their income off-shore prior to declaring income for tax purposes.
And then there's **** like this:
http://www.nytimes.com/2016/08/12/bu...zero.html?_r=0
Quote:
Critics have called like-kind exchanges an outrageous tax loophole that benefits wealthy real estate developers and other investors to the tune of $33 billion in lost tax revenue a year. The Obama administration has called for repealing it, and several bipartisan measures to do so have been introduced in Congress, all to no avail given the gridlock over tax reform.
“It’s a big loophole,” Mr. Rosenthal said of the like-kind exchange provisions. “It allows well-to-do and well-advised taxpayers to defer their tax liability potentially until death.”
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__________________
“The fact that we live at the bottom of a deep gravity well,
on the surface of a gas covered planet going around a nuclear fireball 90 million miles away
and think this to be normal is obviously some indication of how skewed our perspective tends to be.”
Last edited by Chula Vista; 09-07-2016 at 06:40 PM.
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