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I think many people don't accept that explanation for the reason wealthy people aren't paying taxes, or don't accept it as complete. For example, I don't pay t
by pwinnski 5y ago
I think many people don't accept that explanation for the reason wealthy people aren't paying taxes, or don't accept it as complete.
For example, I don't pay taxes on the appreciation in my investment accounts, since I'm not spending that money, but I do pay taxes on my income, the money I'm actually spending. Meanwhile, some of the people identified by ProPublica are paying literally zero in taxes, and yet clearly spending more in a week or even day than I spend in a year.
THAT is what draws people to the story. "How does someone whose spending clearly outstrips mine by 10x or more pay less than I do in taxes?"