This argument ignores the fact that most of the “rich” have no income. Their lawyers and accountants insure this.
I know several people with incomes pushing towards, or past, seven digits, and they’re laughing at all the arguments about taxes. They pay very little and are living fat.
The Middle Class pays almost all taxes. Historically, this is the way it’s always been, and probably will be since they seem incapable of recognizing reality.
Slowly boiling pot...meet frog.
Yes! The rich often have no official income. They are not hurt by higher taxes; it is those seeking to become rich who are hurt by higher taxes. Perhaps the elite design things this way to keep the riff-raff out of their neighborhoods. ;-)
Well....the middle class is where the money is. Collectively speaking...............
Oh...they have "income" alright...but - as you point out - it is hidden by their accountants and lawyers.
I know several people with incomes pushing towards, or past, seven digits, and theyre laughing at all the arguments about taxes. They pay very little and are living fat.
As do I...in fact, I have three "rich" brothers. Their occupations put them each well over "six figures"...one is just below seven figures. And each of them have the appropriate accounting/legal staff to ensure that their income is "screened" such that their actual taxes usually amount to less than is paid by a wage earner at the $47,500 annual level.
The Middle Class pays almost all taxes. Historically, this is the way its always been, and probably will be since they seem incapable of recognizing reality.
And don't think our wonderful federal and state politicians are not completely and totally aware of this!! Why do our reps tout higher taxes on the rich?? Because they know that they are safe from the tax man! Hell. They write the laws. It isn't the IRS that is the evil in the land; they're just armed collectors. The evil in the land is the representatives...IMHO...ALL OF THEM!!