Thursday, December 6, 2012

Tax Avoidance ...

is really hard work, you know! If you're clever enough and you invest your money in the skills of shrewed accountants, crafty lawyers, pay some extra cash to smart financial advisors, bankers and stock exchange traders, you will finally push up your tax avoidance revenues to the max, totally within the law. So why would you complain about that? Don't be stupid! You should do it, too!

"For the 400 U.S. taxpayers with the highest adjusted gross income, the effective federal income tax rate—what they actually pay—fell from almost 30 percent in 1995 to just over 18 percent in 2008, according to the Internal Revenue Service. And for the approximately 1.4 million people who make up the top 1 percent of taxpayers, the effective federal income tax rate dropped from 29 percent to 23 percent in 2008. It may seem too fantastic to be true, but the top 400 end up paying a lower rate than the next 1,399,600 or so.
That’s not just good luck. It’s often the result of hard work, as suggested by some of the strategies ..." (see "How to Pay No Taxes: 10 Strategies Used by the Rich")

See also: Britain's missing billions: counting the true cost of corporate tax avoidance


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