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> Every US person pays for taxes on capital gains Much of America never pays such taxes and has no such investments. About 40% (? IIRC) don't have $600 saved.
by wolverine876 4y ago
> Every US person pays for taxes on capital gains
Much of America never pays such taxes and has no such investments. About 40% (? IIRC) don't have $600 saved.
> taxes ain't zero for executives of large corporations
Taxes on wealthy are relatively low, in part because capital gains, the source of revenue for the wealthy, are taxed at a lower rate than income, the source of revenue for working class Americans.
> This extreme focus on taxation of corporations is bizarre.
I don't see the argument. Corporations pay relatively low taxes, and it has a large effect on other Americans who lack government services and have to pay more themselves to cover the corporations' share.
> You can try to bullshit the IRS but they will come down on you like a bag of bricks if you feed them a load of crap.
The GOP cut IRS enforcement to the bone, and it was restored only ~1 year ago.
- orangepurple 4y agoLong term capital gains tax on the wealthy is 20%. About the other point: IRS will come after you even after many years have passed so its a dangerous game of chicken to even attempt.