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The same way that Trump, Bezos et. al. seem to be able to avoid paying taxes on most of their wealth, in that they generally find a way to recover profits witho
by lsllc 4y ago
The same way that Trump, Bezos et. al. seem to be able to avoid paying taxes on most of their wealth, in that they generally find a way to recover profits without it being considered "income".
https://www.propublica.org/article/billionaires-tax-avoidance-techniques-irs-files https://www.propublica.org/article/billionaires-tax-avoidanc...
All I'm saying is that by eliminating the 1031 exchange, I suspect it'll hurt far more individuals and small businesses (resulting in stifled growth) and the "big boys" will simply use some other vehicle to continue avoid the taxes.
- ryathal 4y agoThere is currently no tax on wealth in the United States, so there is no tax to avoid on wealth.