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Well yeah that's obvious. I could summarize this whole article by saying that wealthy people don't pay much income tax because they don't report much taxable in
by rexreed 5y ago
Well yeah that's obvious. I could summarize this whole article by saying that wealthy people don't pay much income tax because they don't report much taxable income. Since we don't tax wealth separately from income, they don't pay much tax.
There, I summarized all their intense reporting in an obvious way. What does it tell us? Nothing that we don't already know.
All they are arguing about is taxing wealth separately from taxing income. That will never happen for many reasons.