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


To: J_F_Shepard who wrote (470715)4/11/2009 5:59:25 PM
From: i-node  Read Replies (2) | Respond to of 1575488
 
.it may surprise you, but middle class folks don't need a complex tax code.....their returns are quite simple...

Do you have any idea how many "middle class" folks own rental property and therefore are subject to section 469? Do you have any idea how many have AMT preference items? Do you have any idea how many make contributions of property that are subject to complex limitations? Do you have any idea how many "middle class folks" are self employed and therefore file schedule C/SE with all its trappings? Do you know how many receive pension LSDs with the result that their tax returns and planning situations are significantly complex?

You don't have any idea what you're talking about.



To: J_F_Shepard who wrote (470715)4/11/2009 11:21:44 PM
From: Tenchusatsu  Read Replies (1) | Respond to of 1575488
 
JFShepard, > it may surprise you, but middle class folks don't need a complex tax code.....

LOL, millions of middle class people itemize their deductions. TurboTax wouldn't sell at all if the middle class had such "simple" tax returns ...

Tenchusatsu



To: J_F_Shepard who wrote (470715)4/12/2009 1:28:37 AM
From: HPilot  Read Replies (2) | Respond to of 1575488
 
If you think that the rich have complex tax's, you should look into the many returns for farmers, who trade livestock and farm equipment. The same forms for a rich capitalist, plus those specific to land owners, plus those specific to farmers. The rich don't have more complex tax than a farmer, its just that their 1099 forms are longer.