When the wealthy pay no taxes

13 thoughts on “When the wealthy pay no taxes”

  1. The tax laws are abysmal.
    Not a numbers person, but
    A flat tax? Still have collection difficulties?
    How about a simple sales tax on everything and no other Fed. taxes – so those who are paid under the table, never file returns even if they should – That way everyone who spends, pays. There are a lot of tax dodgers who get away with it even if not rich.
    And please, close the biggest tax escape loop hole of all: working for the federal government. Any employee on the federal payroll that owes taxes should be fired immediately – at least put on a payment plan with stiff consequences if not fired. You’d be stunned how many fed. employees get away with not paying…a lot in the IRS.
    Infuriating to hear them laugh about it.
    I don’t wish to punish those richer or more clever than I using legal means to avoid what they should pay, but seriously
    And the Fed. gov. need so tighten it’s belt and live on the amount of money coming in from taxpayers…and stop inventing reasons why we should pay more and more and more. DO what families do: stop spending.

    1. I’m so math illiterate I can scarcely address your suggestions. I know sales taxes work against the middle and lower class, but don’t ask me to explain. I’m guessing a flat tax would too, but can’t explain that either. It figures those working for the IRS would know all the tricks, and to a lesser extent, probably all those working for the government. And no, I’m not eager to punish the rich; I just want them to be honest. I do, however, often wonder how much is enough? If you already have more than you can spend in three lifetimes, why are you so desperate to hide the rest?

    2. Same here in the UK. A few years there was a big press expose of MP’s expenses here. Many shocking stories of fraud, basically, but amazingly allowed. The one I shall tell you about is of an MP couple who each claimed expenses on a house. One claimed on their house near Westminster and one claimed on their family home. So in effect the state paid for each houses bills, decoration and any extensions! There plan was to sell for huge profit at a later date. After the scandals MP’s had to provide RECEIPTS for and expenses claimed, something they rarely did apparently. Needless to say as time has passed MP’s moaned about showing receipts and it has gradually been forgotten about again. Incredible! It is basically as bad as it used to be.

      1. It frustrates me that the super-rich, with more money than they could spend in three lifetimes, are so determined to escape paying taxes. It’s not like paying their taxes would put them on the street or take food from their tables.

  2. The tax code in the USA is ridiculous, of course. One of the biggest loopholes is the low tax on capital gains, only 15% to 20%. Taxes on net worth would be more fair than on income, but it’s too easy to hide such numbers. The most regressive taxes are sales taxes. They tax only a tiny portion of the income of the rich, but a great portion of the proletariat’s income. And the tax breaks for home ownership actually make no sense. (Think about it, why should the general population subsidize it over rental?) Bottom line, the tax code (don’t try to lift it!) is one huge pork barrel!

    1. Hmm, I hadn’t stopped to think that homeowners pay property tax but renters don’t (although part of their rent subsidizes the taxes paid by their landlords). Our taxes go to schools, roads, etc., but renters use them too. Good point, Jim. Even I can understand that. Senior citizens here do get a wee break on property taxes after they’ve owned the property for ten years, which I appreciate. It’s the sales taxes that I notice the most.

  3. I know several people who received stimulus checks because they have some of those “best tax accountants” so their tax returns fit into the stimulus check algorithm and were deemed worthy. One word about renters, of which I am one. At least you mentioned that part of our rent does go towards the owners’ property taxes. I’m so tired of being told that I don’t pay property taxes. There is no free lunch. I’ve also been told by people that renters never vote or take part in city concerns and those are both myths in my experience.

    1. Oh, I would never say that. I’ve spent quite a few years in apartments and I was no less responsible then than now. I just never stopped to think about my rent helping to pay property taxes, but then nobody ever got on my case about not having to pay property taxes. (And whose business is it anyway?) I’ve always voted and always been attentive to my city’s concerns, just like any other responsible citizen, regardless of whether I was in an apartment or a house.

  4. I would, most definitely, love to know how these people end up paying no taxes. What they do, the loopholes they find, etc. How they were able to manipulate the system.

... and that's my two cents