Quote:
Originally Posted by Rathji
Why is a deduction for a rich person is any less valid than a deduction for a poor person.
I can see why not actually paying the tax bill is an issue, as with the OP, but if I have a deduction for XYZ, why is it bad if I use it?
The deduction is there for a reason, so either complain that it needs to be changed or don't, but don't treat it like these people are in the same boat as people who just don't file or don't send a cheque.
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I'm not calling all deductions bad. I would imagine there are various other loopholes that are being exploited by wealthy people to get out of paying taxes.
As for the deduction for rich people versus poor people. IMO taxes should be fairly even based on income. If you want to implement a system where lower/middle class people can deduct certain things to keep a little more income, I'm fine with that. But when super-rich people do it to the tune of millions, billions or trillions of dollars, I don't see the point.
And no that doesn't mean I agree with a 75% tax rate for rich people. I'm the last person on CP who agrees with MORE taxes. I just don't believe that rich people in the US are paying fair rates.
Hell even Facebook was under fire for hiding billions offshore to avoid paying taxes.