Actually what you said was this:


Can you explain why, if we had a flat tax rate, the rich would not skirt taxes they should owe? The way I see it, if there was a flat tax rate, and I was rich, I would STILL look for loopholes to reduce my taxable income(assuming all that changed was to a flat tax rate). I wouldn't say to myself "ok I'll pay" just because my rate is lower. Perhaps I am misunderstanding your point because of the way you wrote it, but it seems to me like you're saying that the rich would not look for ways to reduce their tax liability if there was a flat tax rate.


:banana:

 

its called bermuda look it up

 

i was simply addressing the topic from a theoretical viewpoint. i am fully aware of the repercussions of having a flat tax system. one of my undergrad majors happen to be economics, where we spent many an hour reading and discussing our current tax system.

being that we are on an internet forum and discussing the topic at a superficial level, i wanted to be a bit facetious in addressing the issue. to label someone as a misguided youth b/c they are putting out generalities and whatnot is a bit critical, don't you think?

db

 

this, i have to disagree with. what makes you think middle class americans don't claim extra exemptions to save on taxes? if the incentive is there, everyone, regardless of income bracket, will be looking for loopholes.

some of the richest people are also penny pinchers....they will look for any opportunity to save or cut corners.

 

I agree the $40K vs. $4.5MM is an overblown figure. But, by playing shell games with legal entities, particularly when you involve off shore legal entities, a very rich person could shield a lot of cash from Uncle Sam.
BTW, that millionare you mention above is paying 25% in taxes. I pay a higher percentage, even though my best year thus far was substantially less than a million bucks. See the point?

edit: kicks feet up and sips some chai tea. lol

 

Everyone pays into it and every has the same right to benefit from it. My point was not that they benefit from these programs specifically. Just that the tax laws are written in a way where the rich seem to benefit more so than poor people.


I never said it was ok. I just stated that tax laws help the rich out more.

Others are not paying minimum taxes by choice, a lot of people make very little money and they pay their "share." The way the system is set up, it does penalize the rich, whether it's through hard work or just luck.

I would have to agree with salty in that the situation is a little far fetched, you won't be paying 40k instead of 4.5M, that's damn near impossible for an individual.


:banana:

 

The tax code considers corporations an individual, iirc.

 

http://www.nolo.com/lawcenter/ency/a...F37C97C455A2D4

 

BLING!


:banana:

 

Dear Capt asshat,

I regret to inform you but you have missed an important part of this discussion. Please feel free to re review the entire thread in its entirity before you make stupid remarks that are semi out of context.

For your own sake we have attached a portion of a post that you missed.


Sincerly yours,

The league of internet *******s for a better internet



PS we care so much about you that you arent worth spell checking for.

haha sorry you caught me in a good mood

 

I pay quite a bit too regarding percentage. The person I mention is the President and co-founder of the same firm I work for as a mortgage broker... she just so happens to be my Mother.

 

To get back on the thread topic, as I see it, there is no such thing as too wealthy. But if you ARE wealthy, you should realize that the best thing to do with your money is to help other people. If the government has to step in and require you to pay more taxes because you're rich, that's fine. If you're in this country to make a lot of money for yourself, then take that money and move to an island where there isn't anyone to add or detract from your life. If you choose to live here and be wealthy, then part of the cost of living in our society with our freedoms and our way of life is to help other people who are less fortunate get their standard of living up too. I'm not saying we should go commie, that obviously doesn't work to the people's advantage in the real world. But meisers with a ton of money who find ways to pay less taxes are A**holes. No other way about it. It's not like taxes ever made a rich motherf***er broke. And the tax money generated from rich people CAN make a whole ghetto area into a safer and better place to live. It's simple...if you care about other Americans, stay in America and pay taxes (more tax if you got more cash). If you don't care about other Americans, then stop taking advantage of the good things about the country without helping the bad parts and get the f*** out of here.