A Tax Law For The Forbes 400

Reprinted with permission from DCreport.org

Buried in the in the two tax bills being rushed through Congress is a fleet of lucrative opportunities to escape taxes, though no one is talking about this costly and unnecessary problem.

By the way, you won’t qualify for these tax favors unless you are mega-rich. The bills create tax avoidance yachts, not small sailboats or dinghies—and certainly not life rafts.

Think of the twin tax bills as the Forbes 400 Tax Forgiveness Act of 2017.

As much as two-thirds of the tax savings will go to the 1%—and of that, the savings will overwhelmingly go to the tenth- and hundredth- of 1%. The savings will help those whose incomes range from a few million dollars a year to more than a billion dollars a year. The official analyses by Congressional experts show that over the next decade everyone making less than $75,000 a year will pay more tax so that the super-rich can pay much less.

http://www.nationalmemo.com/tax-law-forbes-400/

David Cay Johnson and his team at DCreport.org are amazing