The super wealthy also pay much less in proportion of their incomes because of tax dodges. For example, Jeff Bezos’ salary at Amazon was $80,000 per year. The rest of his income outsourced to business expenses such as his homes, none of which he owned in his own name and food bills being classified as business expenses chalked up as entertainment. Tax dodges are plentiful for the wealthy who have professionals finding dodges and loopholes. The rest of us carry the freight.
Another point, even with a wealth tax and higher rates they’d still have money to burn.
The super wealthy also pay much less in proportion of their incomes because of tax dodges. For example, Jeff Bezos’ salary at Amazon was $80,000 per year. The rest of his income outsourced to business expenses such as his homes, none of which he owned in his own name and food bills being classified as business expenses chalked up as entertainment. Tax dodges are plentiful for the wealthy who have professionals finding dodges and loopholes. The rest of us carry the freight.
Another point, even with a wealth tax and higher rates they’d still have money to burn.
Very straightforward article. I feel to be in line with every concept in this article.
I wonder if a no deduction, across the board 10% tax would begging to cure some of the flagrant inequality we live with today.