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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (370002)	2/5/2008 4:50:14 PM
From: longnshort	Read Replies (2) \| Respond to of 1572644

A friend of mine had a 'c' corp and made 300k profit. Tried to take it in salary. The IRS said no the going rate was 65k so he had to pay 35% on the 235k and personal income tax on that. So he was taxed about 80% on that money.

To: Road Walker who wrote (370002)	2/5/2008 4:53:06 PM
From: Joe NYC	Read Replies (1) \| Respond to of 1572644

John, The point is that the "highest rate" argument is misleading and deceptive. But rate of tax avoidance is a function of the highest tax rate. You say that highest tax rat is not routinely paid, because of tax avoidance, but if the rate was lower there would be less tax avoidance. Joe