I see a lot of talk about how the ultra rich don't get taxed enough, but no one talks about the loopholes. It's all smoke and mirrors to get the public eye off the real issue about taxes. There is nothing wrong with the top tax bracket and it should NOT be increased. The real problem is that there are too many loopholes that the ultra wealthy take advantage of to lower their rate. Increasing the tax rate is just going to hurt the upper middle class. this is how it was explained to me by my friend 10 years ago:
The poor vote for more taxes so they will get more benefits while the rich just pay off politicians to create loopholes so they will pay less taxes. This just causes the middle class to get squeezed.
let me know your thoughts on this.
The poor vote for more taxes so they will get more benefits while the rich just pay off politicians to create loopholes so they will pay less taxes. This just causes the middle class to get squeezed.
let me know your thoughts on this.