What is this guy saying?
Taxing an annual salary of 250K is miles away from taxing a millionaire.
So dumb.
New report debunks narrative on income inequality
http://www.freerepublic.com/focus/f-news/2910934/posts
The Latest News on Tax Fairness [top 20%’s share up, everyone else’s share down over last 30 years]
http://www.freerepublic.com/focus/f-news/2910624/posts
CBO: By the way, the rich already pay more than a fair share in taxes
http://www.freerepublic.com/focus/f-news/2905255/posts
Billy should just send the IRS all his income.
Absolutely. I’ve been in the tax advising business for almost 40 years. Ive seen numerous attempts to tax the rich. They always miss the rich and hit the middlle class. Why? Because they don’t draw a distinction between high income and rich.
A person with high income may not be rich. A person without lower income may be. It depends on whether they are relying on their investments or their labor. A person who does not have to work to live as they wish is rich, but a person who has to work, no matter how much they make, is not rich.
Th reason they always miss the rich and tax the middle is partially intentional - it’s where the money is. There are fewer rich people.
It may also be unintentional, but maybe the tax law writers realize this. If one is rich, one may move one’s investments for tax advantage, in order to realize maximum after-tax earnings and mimimize the risk. Moving one’s labor is more complicated, and more difficult.
Uh yea.
Like Obama smugly said “It’s a math problem” Something his kids apparently do better than he.
There is a huge chasm between $250k and $1million.
Is it a tax on millionaires, those making $1million or do words have any meaning at all?