The IRS Tried to Take on the Ultrawealthy – It Didn’t Go Well

Re:The IRS Tried to Take on the Ultrawealthy – It Didn’t Go ... by kevin_thibedeau on Friday April 05, 2019 @01:34PM (#19585035)

Even simpler test: If I as an individual can't use a double-Irish scheme to eliminate my personal income tax liability why should a corporation be able to?

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Re:The IRS Tried to Take on the Ultrawealthy – It Didn’t Go ... by refurb on Friday April 05, 2019 @02:19PM (#19585492)

Because they are different entities with different needs?

Should corporations be able take allowances for their dependents?

Each entity is treated differently because they are different.

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Re:The IRS Tried to Take on the Ultrawealthy – It Didn’t Go ... by LoSboccacc on Friday April 05, 2019 @02:11PM (#19585415)

having taxes on earnings and not gains multiply taxes on products that have long manufacturing chains, or at least that's the theory.

the result is that you can shift earnings and inflate costs to reduce gains dodging taxes.

people should be able to claim expenses even for luxuries, but then nobody would have savings because those are capital inefficient.

so there are two different drives that make the tax code asymmetrical, even in principle, before those schemes for dodging fair taxation.

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