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There's nothing new about the wealthy protecting themselves. Just ask any CPA that works for a big accounting firm. Whole divisions are set up just for this. I worked in one 45 years ago. Politicians love doing favors for their wealthy "friends". Why do you think we have such a screwy tax code. We'll never have true tax reform in this country.
I don't mind the avoidance. What I resent is the paying a rate far less than the rest of us.
I think we should all set up a charitable foundation. Put all of our income in it, give a charity 5%, then reimburse ourselves for our "expenses".
Better yet, how about we all become a church?
They also pay a lower rate because INCOME tax is higher than CAPITAL GAINS taxes, which is where most wealthy people make the most of their money.
Why you hating on Charity? How much of a tax break do you get for your tax dollars that go to such charities as WIC, SNAP, ETB, HUD, Section 8, Medicaid, ....
Love that George Soros is listed as a poster boy for this loophole and for the fact that he is a significant donor to democrat candidates, including $1M so far in the 2016 Presidential campaign.
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