Saturday, April 16, 2011

Taxing thoughts

Just an excellent article on how the rich benefit from our tax code. Read it, especially the debunking of lie on how "the poor don't pay taxes."

There's 2 other notes I want to bring up ahead of tax time:

1. Capital gains are a disprpoportionate amount of the rich's income, because they have the extra cash lying around to gamble with. So when those are cut below incomes, it's a giveaway to the rich. And nothing more.

2. Property and state income taxes can be written off on your federal 1040. So if you're in a state like Wisconsin that has disproportionately high property and income taxes vs. others, the rich get a bigger tax break as a result. Nice, huh?

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