(10-02-2020, 07:55 AM)The Real Marty Wrote:

(10-02-2020, 07:35 AM)mikesez Wrote: So tell me, o wise one, how mitt romney's rate got to be 15%

Look up "carried interest."  

But don't act like all rich people run private equity funds.  That's a very small number of people.

That's what I was talking about.
They disguise their income as capital gains via a private partnership that was set up for that purpose.
You want to grouse about how I said "corporation" instead of "fund" or "partnership" or whatever the word is, fine, either way, it's a legal fiction created for the purpose of liability reduction.  Don't confuse your greater semantic knowledge of the situation for greater ethical knowledge.
I don't think it's a small number of people, and when we're talking about the literally billions of dollars that pass thru the loophole, it doesn't really matter if it was just three people doing it or 300.  It's unjust.

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