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re: Bannon reportedly calls for tax of 44 percent on those earning over 5 million a year
Posted on 7/27/17 at 10:18 am to Pettifogger
Posted on 7/27/17 at 10:18 am to Pettifogger
quote:
Wealthy staying wealthy and poor staying poor is the natural human condition.
[sarcasm]Of course, I'm sure that wealth and status are evolutionary traits ingrained in us.[/sarcasm]
Posted on 7/27/17 at 10:25 am to skrayper
quote:
Write offs and deductions basically provide incentive to spend money into the economy, instead of hoarding it.
I'm not causing 10 dollars in expenses to write off 4 dollars in taxes.
Yes you can reduce taxable income by including expenses, but I think some of you assume companies are coming out whole when they expense shite. It doesn't work like that, meals aren't magically cost/revenue neutral to companies because they say oh I'll expense it as a business meeting.
Also, yes rich people can form corporations and stuff, but they are still paying Corp tax rate and cap gains rate to see most of that income on a personal level. Partnerships still have to show the expenses are for legit business purposes, they can't just jet to vacation places and expense it.
This post was edited on 7/27/17 at 10:31 am
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