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Politics : Politics for Pros- moderated
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To: Bill who wrote (410797)2/15/2011 11:05:56 AM
From: Katelew  Read Replies (1) of 793586
 
Everybody, large and small, rich and poor, chooses how much income to actually report

Salaried people are pretty captive to their 1099.

But such illegal activity has nothing to do with effective "rates" in the tax code, which was your original point I believe.

Here's what I had in mind when I said that. If a taxpayer is somehow able to underreport half their actual revenues, their effective rate is cut in half compared to what it would be if all the revenues had been submitted to their accountant and thus the IRS.

It's the old 'keeping two sets of books' thing.
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