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Yea... you're talking about tax code. It literally is the trees and leaves of the issue. What do you want, a Bolshevik revolution? That'll fix things. What lot
by Fern_Blossom 5y ago
Yea... you're talking about tax code. It literally is the trees and leaves of the issue. What do you want, a Bolshevik revolution? That'll fix things.
What lots of people still aren't realizing, all tax codes apply to everyone. There are no class distinctions. New tax codes apply to the 99% as well. When the whole GameStop/AMC stock ride happened, a lot of people realized "I now have an opinion about capital gains taxes... I don't like them". You have access to all the same loopholes the 1% have access to.
- yunohn 5y agoRealistically speaking, most people do NOT have access to the tax loopholes that the 1%+ does. I didn’t realize this was an actual argument, because it’s well established. Using meme stock millionaires as an example is hilarious. That’s maybe a handful of people in comparison to the rest of the normal working class population.
- yunohn 5y agoHere’s a great example of how the rich can creatively avoid taxes, fresh off the press: https://www.bloomberg.com/news/articles/2021-06-09/sequoia-mulls-changes-that-could-help-fend-off-biden-tax-hikes https://www.bloomberg.com/news/articles/2021-06-09/sequoia-m...
- op00to 5y agoI do not have access to the same loopholes as the 1%. I do not own a foundation, corporation, or trust, and have no means of creating these.
- Sacho 5y agoYou most likely do - founding a corporation is trivial in most European countries and the US. But you don't even need any of these things to get "access to the same loopholes" as "the 1%" - buy some stocks and hold them. You've now achieved the same tax "avoidance" that the ProPublica article is talking about.
- jfrunyon 5y agoThat's not nearly all that the ProPublica article is talking about.