Stephen Evans (BBC): America's rich rise against tax

Jack Rabbit

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Fri Apr-15-05 08:40 AM
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Stephen Evans (BBC): America's rich rise against tax

From the BBC Online
Dated Friday April 15

America's rich rise against tax
By Stephen Evans
BBC North America business correspondent

Only taxes and death are certain - except for taxes, that is.

It won't seem that way to the millions of Americans who file their tax returns by the deadline on Friday, but there is a mountain of evidence that tax avoidance (the legal variety) and even tax evasion (the illegal variety) are growth industries.

Accountants in the field have even come up with the term "tax avoision" to describe the grey areas in between. It was Leona Helmsley who said famously that "only the little people pay taxes".

You might forgive her cynicism. The assertion was over-stated but not completely wide of the mark.

Read more.

The Republicans have codified the Leona Helmsley tax theory.

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jojo54

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Fri Apr-15-05 08:57 AM
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1. They have access to the loopholes

cause the loopholes are made for the rich. Could you see any of us "working middle" class write off our childs toy collection?? Not that I have proof that the rich write off their kids toys, but why not? It's assinine, just like how they get away with paying only the smallest tax fraction compared with everyone else.

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Jack Rabbit

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Fri Apr-15-05 09:05 AM
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2. Clinton's targeted tax breaks worked very well

That and fiscal discipline were what the government did to balance the federal budget during his tenure in the White House.

These tax breaks were targeted mainly to the middle class for the purpose of bettering themselves by going to school.

The trickle-down model inherent in tax cuts aimed at the wealthy was discredited ages ago. The Republicans no longer defend it on pragmatic grounds. They've tried to make it a moral issue. The only moral here is that when a Republican starts talking about morality, one should make sure his wallet is still in his pocket.

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