News for hackers. Stuff that matters.

A comment on Wealthiest Americans pay just 3.4% of income in taxes, investigation reveals. Parent comment

Re:Wealthiest Americans pay just 3.4% of income in taxes, in... by nautilius on Thursday April 14, 2022 @05:36PM (#31033622)
> - We make a special carve-out for people in that situation so that the tax doesn't apply to them.

Tax law does that all the time. Maybe you've heard of tax brackets. It's so that people who earn less pay a smaller tax rate. I don't see the trouble with that. It's applied in the other direction as well, e.g. with a maximum dollar value with medicare.

[ Parent | on HN ]
Re:Wealthiest Americans pay just 3.4% of income in taxes, in... by JumpCrisscross on Thursday April 14, 2022 @07:47PM (#31034970)
Zero chance a wealth tax goes into effect in America without excluding farmland. That or the Electoral College does.
[ Parent | on HN ]
Re:Wealthiest Americans pay just 3.4% of income in taxes, in... by nautilius on Thursday April 14, 2022 @08:56PM (#31035491)
Oh, I'm not talking legislative probability. I was responding to the comment that it's somehow an unfathomable thought to have different 'carve outs' for different people in tax law (or anywhere, really) when that is standard practice in reality already.
[ Parent | on HN ]