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So you're saying you don't know their income or, more importantly, how much they pay in taxes?
If you don't know this, why would you make a post about their earnings and taxes?
I know their income actually, I have posted the number-just shy of 25 billion combined for the top 25. I could break that down more.
As for their taxes, I do know this fun fact, the carried interest loophole for them brings most of them down to a 20% rate right off the bat, then anything they can shuffle around ala Romney for example drops it from there. But what their final rate is, no idea.
I know their income actually, I have posted the number-just shy of 25 billion combined for the top 25. I could break that down more.
As for their taxes, I do know this fun fact, the carried interest loophole for them brings most of them down to a 20% rate right off the bat, then anything they can shuffle around ala Romney for example drops it from there. But what their final rate is, no idea.
So, why did you bring up a specific group if you don't know what that group pays?
Quote:
Originally Posted by greywar
I do know I pay a higher rate. LOL.
Tell your elected officials that you want a flat tax where everyone pays the same rate and you'll no longer need to worry about paying a higher rate.
If one person pays $25 million in federal taxes, they are paying far more than pretty much anyone else. Unless the government is paying to have a fleet of helicopters on standby to take them where ever they want to go at the drop of a hat, they are paying MUCH MORE than their fair share.
Sure about that? The infrastructure they use isn't cheap, and corporate America uses the hell out of it.
Oh, and the helicopter rides? They're almost certainly written off as a business expense. The government isn't paying for those trips and three-martini lunches, we are.
Please explain how Bill Gates personally uses more infrastructure than most people to justify an extra, we'll just say, $25 million.
Well, one thing we know for sure, RaymondChandlereLives is not an accountant.
Let me guess, you believe they get their yachts for free as well. No, no, no, you probably believe the poor are forced to pay for them.
If you actually believe such fantasies, no wonder why you hate rich people.
Few, if any, of these moguls are reporting $25 million in income, much less paying it in taxes. Tim Cook's salary, for example, was under $5 million last year.
CEO “private security.” A “common corporate tax trick,” according to the New York Times, is corporate boards paying for private jets and other perks for their CEOs under the guise of security. As Steven Davidoff reported, typically CEOs would have to pay taxes on these benefits, but if the benefit is classified as necessary for security purposes, “the chief executive will pay a reduced tax bill or
Quote:
Tax breaks for vacation homes and yachts.The mortgage interest deduction, which is supposed to boost homeownership, can be used on second homes, or even yachts, so long as they are large enough to accommodate a bathroom, along with a cooking and sleeping space. Limiting the deduction to primary residences would raise $1 billion per year in revenue.
<waits patiently for "dude, even the kid at McDonald's can use those loopholes!" reply>
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