8This is flawed. Assets are not taxed as they appreciate. But the total profit after selling the asset is. Thus, despite having some years where they pay no income tax, there are years where they pay the missing amount and then some due to asset sales.
Im not saying there arent loopholes, but this article doesnt understand taxes anough to stick to the real loopholes.
8This is flawed. Assets are not taxed as they appreciate. But the total profit after selling the asset is. Thus, despite having some years where they pay no income tax, there are years where they pay the missing amount and then some due to asset sales.
Im not saying there arent loopholes, but this article doesnt understand taxes anough to stick to the real loopholes.
They don't want to say "income tax is stupid" because their political position relies on those middle class income taxes. They want to appear to advocate for taxing the wealthy's wealth, however that has never happened. The wealthy have the tax code that they paid for.
They don't want to say "income tax is stupid" because their political position relies on those middle class income taxes. They want to appear to advocate for taxing the wealthy's wealth, however that has never happened. The wealthy have the tax code that they paid for.
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