(10-02-2020, 10:42 AM)mikesez Wrote:

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

You were arguing with my point that rich people cannot avoid paying taxes.   If your best example is a few hedge fund managers who get to pay capital gains rates on their fees, you have finally succeeded in pointing out a tiny number of rich people who have managed to pay a lower tax rate on part of their income that what you think they should pay.  

That does not refute my point that rich people not only cannot avoid paying taxes, and that they actually pay an incredibly large proportion of the taxes in this country.  The top 1% of earners pay 40% of the income taxes!

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