4 ms·
If I'm wealthy, it's most likely that I own a business. If I have a business, then it will have bought that airplane, yacht or car all as tax-deductible purchas
by HeyLaughingBoy 4y ago
If I'm wealthy, it's most likely that I own a business. If I have a business, then it will have bought that airplane, yacht or car all as tax-deductible purchases. Business then lets me use those at its discretion. My personal car can be an '87 Chevette.
Best example I'm personally familiar with is the carpenter whose Corvette was a company car.
- kcplate 4y agoAll of those things are still purchased though, whether it’s a company or an individual. Personally I thought the purpose of taxes was to provide the government its funding, not punish.
- HeyLaughingBoy 4y agoI was addressing the point about wealthy people paying more in sales taxes than the poor. That is correct, but if you have access to the wider range of tax shelters that the wealthy do, more of your expenses can be tax deductible. I agree that taxes shouldn't be punitive, but that's another discussion.