very true, but im fairly sure there is a limit on the type of deductions they can take. I'm just sick of people complaining about cutting taxes for the "rich". this country went to war over a 3% tax on freaking TEA!
If you invest in a couple of "dud" funds so you loose some money each year, it can be written off as losses to offset the profits on their other successful investments...
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Put yourself in the place of the $10 per hour worker... They work 40 hours for $400 net pay and bring home about $300 per week... That has to pay rent/mortgage, car payment (usually a hoopty as they can't afford a new one), electric, gas, water, internet, phone (unless you qualify for a 'bama phone), food for a family... Not to mention they can't afford health insurance... (no cable)
They are going to work 40 hours a week and can't make ends meet... They can't afford to pay more taxes...
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Then you see guys like Trump not paying any taxes... Some corporations making millions/billions and paying less taxes (or none) than them, or even getting government subsidies.... WTF????
Those upper class guys in the triple digits can afford to pay more than the other guy makes in a year and have plenty left over...
That CEO from Wells Fargo that got caught cheating their customers made over $200 million on the stock dividends alone not to mention the millions in bonuses and incentives that he made.... He ain't paying 25% - 33% like the working class guys... And his 25% - 33% is waaay more than the $10 per hour guy will make in his lifetime....
What about Martin Shkreli - the pharmacy company CEO that cranked up the price of the AIDS drug by 5000% just to make profit... He can afford a tax increase....
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Then when the $10 per hour guy can get as much to stay home instead of work his *** off for 40 hours, they wonder why there are so many on welfare... You are putting some them on welfare by over taxing them beyond their means...