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"Also, as a tax-lawyer-turned-startup-founder, if we saw rates like this again, I guarantee that the biggest beneficiaries would be the lawyers and accountants
by oblib 8y ago
"Also, as a tax-lawyer-turned-startup-founder, if we saw rates like this again, I guarantee that the biggest beneficiaries would be the lawyers and accountants who would restructure contracts to avoid these taxes."
That makes sense, but I have to ask, how is that different than what we have now?
And, if that is true wouldn't it be a short term benefit for attorneys that would settle back to what's the current norm now after a few years?
Finally, doesn't that assume the changes in the tax code would provide a means to accomplish that?
The goal is to move more of the profits of and gains in productivity back to the working class and there no reason to change anything if that's not wired into the new laws.
- gnicholas 8y ago> And, if that is true wouldn't it be a short term benefit for attorneys that would settle back to what's the current norm now after a few years? It would lead to a higher steady-state amount of work because taxpayers would get more bang-for-buck from their tax planning dollar. See my other comment for an example of how an increase in the nominal rate leads to more tax planning activity.