On Mon, 25 Jan 2010 15:08:23 -0600, D. Peter Maus wrote:
On 1/25/10 14:56 , wrote:
On Mon, 25 Jan 2010 18:14:13 +0000 (UTC), wrote:
And don't feed me the limpBALLS classic line about that the rich do
pay taxes.... most don't pay anymore then, and more then less then
we do. Proven fact
TOo true
The "they pay most of the taxes" is a false claim, misdirection, and
totally stupid way of trying to deflect the core principles
From the Wall Street Journal:
"Notably, however, the share of taxes paid by the top 1% has kept
climbing this decade -- to 39.4% in 2005, from 37.4% in 2000. The share
paid by the top 5% has increased even more rapidly. In other words,
despite the tax reductions of 2001 and 2003, the rich saw their share of
taxes paid rise at a faster rate than their share of income.
WSJ?! that is owned by ... Who?!
*how most millionaires get away with paying little or no taxes.
Most of the wealthy incorporate their personal assets and properties into
a small paper C-corps. All their houses, cars and investments are under
these style companies that have allot of tax instruments. (really meant
for a company likes "Joe's Plumbing") The board members, (the
millionaire's self and families) draw a salary and as with any company,
write this off as a expense.
All the millionaire's REAL income from his real bread winning company is
moved into this small paper c-corp shelter by having this c-corp hired as
a consulting company by the big bread-winning company thus sheltering his
income from personal taxes. The millionaire (and family, as stated above)
is payed a small salary to have some spending cabbage (like a $4k/month
allowance) but since the sum is low, there is only a little income that
is actually taxed. The amortization of the c-corp assets can now also be
written off. House workers such as gardeners, cooks and maids are
expenses that are once again written off. There are many angles this can
take. Specially, with over-sea investments! (nudge nudge wink wink)
This is just a small peak at how the rich get by with paying so little if
any taxes.
Buffet admits that he pays less tax then his receptionist!!!
Remember, "stupid people pay taxes!" -Leona Helmsley