Posted on 01/19/2019 5:35:11 AM PST by reaganaut1
I’ve never liked that phrase, I wish it were true.
That only "limousine liberals" can set up tax free foundations or are you just being sarcastic?
Because there are still lots of investment ventures that will shelter the wealthy's income so their lower incomes from them will drop their tax obligations down into the lower tax brackets.
Most, if not all, wealthy people already do this to legally avoid paying taxes in the higher brackets.
If they don't have tax advisors and accountants that counsel this type of behavior, they need to seek other advice.
I'm no where near wealthy and I do it on my three small businesses. I expense as much as I can legally through them, which lowers my AGI and therefore the taxes I owe.
My dad who met Mr. Benny while on leave during WWII, was invited to a feast at Mr. Benny home. Mr. Benny had hundreds of brave fighting men that day. Dad said that the food, and booze available was never ended. Dad found out that Mr. Benny did the same thing every day of the week. Mr Benny was a great American.
Free Helo rides.
California had a part time legislature until 1967. That system attracted fewer crooks and socialists than the full time one that we have had ever since.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.