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

To: J_F_Shepard who wrote (607319)	4/10/2011 4:46:51 PM
From: i-node	Read Replies (1) \| Respond to of 1578701

I know there are some millionaires who paid no taxes and as a professional tax preparer you don't know how that happened. You and others here have derided "loopholes" and I've tried to get to explain by example what exactly a "loophole" is. As to my personal experience, I will say that however much more tax knowledge I have (and however dated it may be), it is at least a thousand times more than YOU have, because your posts make it clear you're an ignoramus on the subject. As to the comment on "big money guys", I will also point out that "big money guys" play by precisely the same rules as the poor and middle class. In my days as a CPA, without any question I found more of a propensity to chat amongst "little money guys" than I did "big money guys".

To: J_F_Shepard who wrote (607319)	4/11/2011 6:59:13 AM
From: Elroy	1 Recommendation Respond to of 1578701

I know there are some millionaires who paid no taxes Again, I think you mean million dollar income earners. Someone who owns $5 million of Cisco stock, and doesn't sell it, and doesn't work, isn't going to pay any tax. And he's a FIVE millionaire! Someone who earns a million dollars and pays no tax is going to need about a $350,000 deduction. If he's got one (like paying $350,000 in taxes to a foreign government, in the foreign country where he resides) then what's the problem?