the richest 25 Americans have an average tax rate of 15.8% (speech, election, banks)

[Quick Enough]

Originally Posted by serger

Yep, it's compensation for services so it should definitely be taxed at the "regular" tax rates

Go talk to your congressional representatives and tell THEM.

[serger]

Originally Posted by Quick Enough

"Critics argue that this is a tax loophole"

When in FACT it is NOT a "loophole" but, an ACTUAL part of the tax laws.

EVERYBODY who qualifies can apply it to their tax returns.

Yes, everybody who qualifies for this tax loophole can use it. Lol.

[lifeexplorer]

Originally Posted by serger

Yes, everybody who qualifies for this tax loophole can use it. Lol.

Name one thing in any law that is not a “loophole.”

I don’t want to call you names but what you said is completely asinine. You are either not arguing in good faith or …

[Joylush]

Originally Posted by serger

Here is one for you. Any questions?

https://www.investopedia.com/article...s-tax-code.asp

That’s not a loophole. It’s a tax rule. If you don’t like it then advocate to change it.

[brownbagg]

i wonder how much of their money they give to charities to get the 15.8 tax rate

[Bettafish]

Originally Posted by brownbagg

i wonder how much of their money they give to charities to get the 15.8 tax rate

A new article says Bezos received a $4,000 tax credit for his children in 2011.
If he is so generous, why claim the $4,000 tax credit?

[Goodnight]

Originally Posted by Joylush

That’s not a loophole. It’s a tax rule. If you don’t like it then advocate to change it.

Loophole in a sense that wealthy can lower their tax rate due to the large amounts of stock and real estate. No one is indicating it's illegal but the wealthy can benefit more than others due to their wealth. That is why one of the proposals is to have an increased rate for capital gains for those making over $1M in income.

[lifeexplorer]

Originally Posted by brownbagg

i wonder how much of their money they give to charities to get the 15.8 tax rate

Why? Why do you even care?

How much are you giving to charity?

[lifeexplorer]

Originally Posted by Bettafish

A new article says Bezos received a $4,000 tax credit for his children in 2011.
If he is so generous, why claim the $4,000 tax credit?

Nobody said he’s generous.

[lifeexplorer]

Originally Posted by brownbagg

i wonder how much of their money they give to charities to get the 15.8 tax rate

If all your income comes from capital gains, you pay 15%.

You can do it too.