To: Jane Long
We don't pay taxes on all our income. We pay taxes on our
taxable income (as near as we can calculate) according to the current Internal Revenue Code. Surely hedge fund managers and hedge fund investors do the same - thus avoiding prosecution - or they'd fire their accountants and lawyers and get more competent ones.
Leftists sometimes propose that citizens have a moral obligation to pay more to the government than the law requires. I don't buy it. Less revenue - and therefore less power - to the government is something we should all support.
83 posted on
09/27/2015 8:09:06 AM PDT by
Tax-chick
("There will be no conservative issue islands left to stand on if the red tide comes in."~S. Knish)
To: Tax-chick
Hedgefund managers have loopholes, capital gains, etc, that you and I don’t have....thus, they get by with paying less than they would under a flat/fair tax. You and I would pay less under said plan.
Tax preparation folks probably won’t like Trump’s plan....as it cuts down their work. I know our tax guy isn’t too keen on a simplified tax plan...he/his staff may be out of work :-O
85 posted on
09/27/2015 8:14:22 AM PDT by
Jane Long
("And when thou saidst, Seek ye my face; my heart said unto thee, Thy face, LORD, will I seek")
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