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Most taxes now come from salaries, not capital gains or corporations.

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Paragon Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 03:57 AM
Original message
Most taxes now come from salaries, not capital gains or corporations.
This week's Newsweek cover story, and a must-read to understand how Chimp has stacked the deck for the rich and let corporations duck their tax responsibilities. READ IT.

Why Your Tax Cut Doesn't Add Up
http://www.msnbc.msn.com/id/4660655 /

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aquart Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 04:05 AM
Response to Original message
1. Took 'em long enough.
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rabid_nerd Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 04:13 AM
Response to Original message
2. When did they start
letting us do the covers?

Sheesh, these press people are s-l-o-w
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 04:25 AM
Response to Original message
3. Income that is easily tracked is always more vulnerable
to the taxman.. The rich have multiple layers to their financial dealings.. The difficulty is tracking it all, makes cheating almost a given..

People who work for a regular paycheck, cannot hide their money.. Every cent is accounted for..

It has always amazed me that very rich people see hiding their wealth as a delicious game.. They don't mind one bit that other people , middle class and poor people are picking up their slack ...

Lots of "off the books" bartering goes on as well..

In my home town, the orthodontist's kids all drove brand new mustangs, and the Ford Dealer's kids all had fancy new braces..

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unblock Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 04:36 AM
Response to Reply #3
4. so, of course, the irs cracked down on ...
... restaurant tipping!
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TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 07:44 AM
Response to Reply #3
10. Lucky dog!
:dunce:
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Kipper58 Donating Member (208 posts) Send PM | Profile | Ignore Wed Apr-07-04 05:53 AM
Response to Original message
5. I can't comment on the US tax system, but -
speaking as someone who used to work for the Inland Revenue (the British version of the IRS), I can absolutely confirm that paying taxes is to all intents and purposes voluntary for the wealthiest individuals and companies in the United Kingdom.
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Don_G Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 06:34 AM
Response to Original message
6. Of Course
Plus more than a few major Corporations get a PO Box in the Bahamas or Cayman Islands to "legally" relocate there and escape the US tax laws.
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sandnsea Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 07:07 AM
Response to Original message
7. The "Investor Class"
Not that I'm promoting this, I'm just saying it's what I see. A tax system that encourages investment so that America "earns" its income through investments while the rest of the world does the work. It's revolting, but that's where I see the future. Two classes in the U.S., investors and those who wait on them. Young people need to decide which they want to be.
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TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 07:41 AM
Response to Original message
8. LABOR (which creates wealth) is the most highly taxed.
Those who accumulate wealth from the labor of others, either from ownership or inheritance, are the LEAST taxed. It's plantation economics. Those who benefit the LEAST from labor are those who perform the labor.

"Work" is being equated to tobacco -- subject to a 'sin tax.'

It's appalling.
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Killarney Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 07:42 AM
Response to Original message
9. Go Newsweek!
I'm glad some members of the press have WOKEN UP!
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