Quote:
Originally Posted by Howitzer
I agree with the middle class but in a survey a few months ago (I have to find it) and overwhelming majority of CEO's and people with a 200M or more net worth think the tax system is a joke. One of them commented that despite spending 3 or 4 mill that year they paid $18,000 in income tax.
Warren Buffet. Bill Gates, Donald Trump and a few other have been vocal about how unfair the tax code is.
A person would think that a billionaire uses less Gov services than Joe blow while its the opposite. The courts protect their companies, the FBI protects their products, so on and so forth.
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Trump has some good ideas on how to improve the tax system.
Well it all comes down to source of income as you know. If you get paid from one source like a job you get slammed, if you get paid from a business you can reduce your taxes a lot. Or other investments, trusts ect.
A mortgage broker was telling me a joke the other day, about how all plumbers and electritions make $18k a year according to their income tax statements. Yet they want to buy $500k houses and drive new $50k trucks.
And the Indians that run 7-11's all make $30k a year.