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Rich people have many tax loopholes available to them that everyone else doesn't have, including hiding income overseas. And many of them simply break the law,
by woodandsteel 10y ago
Rich people have many tax loopholes available to them that everyone else doesn't have, including hiding income overseas. And many of them simply break the law, as the Panama papers revealed. And the tax loopholes are there largely because of lobbying and campaign contributions they paid for.
You know, if the rich were actually suffering under confiscatory taxes, their percentage of total national income and wealth would be in the decline, but actually it has been steadily going up. Were you really not aware of that?