2 ms·
I've experienced this a little bit too. The richer you are, the bigger the loopholes get. When you get really rich, you can do offshore accounting and all kind
by api 16y ago
I've experienced this a little bit too.
The richer you are, the bigger the loopholes get. When you get really rich, you can do offshore accounting and all kinds of big-ticket tax-dodging that results in you paying less taxes as a percentage of your income than the person who makes your lattes.
I'm actually in favor of a flat tax (maybe trailing off to zero at the extreme low end of the scale) with absolutely no loopholes. Everyone pays X percent on all income, period. You might have a few deductions, but they would be for things like healthcare, child care, and education and would be strictly monitored.
That would actually raise taxes on the rich dramatically.