"I noticed that you could NOT provide an example."
There are thousands of examples.....take all of the Enron donations to both parties, you think Lay was just being altruistic or was he buying influence and political favors???
And please explain this dichotomy, first you say.."I agree the tax code is WAY to complicated, and we should go to a flat tax." But then you say, "There are none(loopholes) to speak of for personal income though (besides mortgage deductions and other taxes). " So how can the tax code be so complicated that we need a flat tax if the only deductions for personal income are mortgage deductions and other taxes???
re: Corporate taxes....it has been written many times that a corporation only pays taxes that it wants to pay, ie there are so many loopholes that a corporation can legally avoid (and many well known ones do or have) all taxes. I've been taught that a corporation keeps 3 sets of books; one for the IRS, one for the stock market, and the real ones. In addition to federal breaks, many states and local municipalities give huge tax relief to companies willing to build or set up shop in their areas.
Re: high income earners..they avoid taxes a number of ways, eg by receiving compensation in forms other than cash such as stock options, perks such as club memberships, use of corporate cars, boats, and planes, use of corporate housing, furnishings, food, wine, staff, etc. Free entertainment expenses. You've heard of Jack Welch haven't you? High income earners can form charitable trusts to shelter income,various trusts to shelter estate assets, buy muni bonds for favorable treatment, invest in swap funds (recently exposed by the NYTimes), and many more I'm sure others on this thread are aware of. And incidentally none of these break the law although there are many that are in the grey area, eg off shore accounts in tax havens...
You better speak to some of you're rich conservative friends Srex, you are leading a "sheltered" life... |
