TurboTax maker Intuit spent millions in record lobbying blitz amid threats to tax prep industry::undefined

  • grayman@lemmy.world
    link
    fedilink
    English
    arrow-up
    1
    arrow-down
    6
    ·
    9 months ago

    Over 90% of tax revenue is collected from less than 10% of the population. Tax the rich is a campaign lie. It already happens. About 50% of adults pay net 0% or get out more than they put in.

    The middle class is shrinking and the wage gap is getting worse partly because of the progressive tax system. Only the top 0.1% have the ability to not care about taxes. And even if you taxed them at 100%, they have the tools and money to avoid paying taxes on the vast majority of their wealth.

    • hglman@lemmy.ml
      link
      fedilink
      English
      arrow-up
      4
      ·
      9 months ago

      Tax as a wealth transfer is exactly how to close the gap between rich and poor. You can see the picture but you have misunderstood how the elements relate. Not allowing the 0.1% to escape taxation is exactly what has to happen.