heir taxes。 In my opinion; that is a long time。 The harder you work; the more you pay the government。 That is why I believe that the idea of 〃Take from the rich〃 backfired on the very people who voted it in。
Every time people try to punish the rich; the rich don't simply
ply; they react。 They have the money; power and intent to change things。 They do not just sit there and voluntarily pay more taxes。 They search for ways to minimize their tax burden。 They hire smart attorneys j and accountants; and persuade politicians to change laws or create legal loopholes。 They have the resources to effect change。
The Tax Code of the United States also allows other ways to save on taxes。 Most of these vehicles are available to anyone; but it is the rich who usually look for them because they are minding their own business。 For example; 〃1031〃 is jargon for Section 1031 of the Internal Revenue Code; which allows a seller to delay paying taxes on a piece of real estate; that is sold for a capital gain through an exchange for a more expensive piece of real estate。 Real estate is one investment vehicle that allows such a great tax advantage。 As long as you keep trading up in value; you I will not be taxed on the gains; until you liquidate。 People who do not take advantage of these tax savings offered legally are missing a great opportunity to build their asset columns。
The poor and middle class do not have the same resources。 They sit there and let the government's needles enter their arm and allow the blood donation to begin。 Today; I am constantly shocked at the number of people who pay more taxes; or take fewer deductions; simply because they are afraid of the government。 And I do know how frightening and intimidating a government tax agent can be。 I have