Evidence from leaked account data on how elites use offshore banking [pdf]

Re:Evidence from leaked account data on how elites use offsh... by PaulDavisThe1st on Saturday May 08, 2021 @06:57PM (#27091558)

>Every new tax inevitably falls onto the middle class, because they can't hire people to restructure their wealth and the poor pay no taxes.

That might be true of new taxes/tax increases created by those doing the bidding of the truly wealthy. In fact, it is true.

But that's true of all possible new taxes, and increasing taxes on those with earned income over $400k will have ZERO impact on those who earn less (in terms of their own taxation).

[ Parent | on HN ]

Re:Evidence from leaked account data on how elites use offsh... by codeecan on Saturday May 08, 2021 @07:38PM (#27091810)

I guess my point is those $400K+ people will have more incentive to avoid the taxes, and when theres a shortfall ... the fed will move to taxing the next group down $400K -> 200K -> 100K -> 50K, etc.

We should put effort into compliance, instead of increases.

[ Parent | on HN ]