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He probably sees a mortgage as an asset too. Besides, glorifying education only goes to falsely increase it's value and prop up overpriced services that have grown many multiples faster than the rate of inflation with declining value. Tis a crock of shit and a racket... and it stinketh.Pretty much anytime an entrepreneur starts his own business.
Or when someone borrows 100,000 just to get the education they need for a job? Isn't the job thus the return on the investment? Shouldn't that job be taxed as low a capital gain made from any other 100,000 investment?
your mistake is you see an education as an investment for a job.
It is not.
The true value of an education is it helps one develop a mind that has the capacity to continue learning.
In esseence, it teaches you to learn and apply.
I now understand why you see "academics" as the end all. They are not. Those that take their academic experience and apply their ability to learn in the real world are the ones that can acheive success.
How did 1400 millionaires get away without paying income taxes?
How many loopholes are there?
How did 1400 millionaires get away without paying income taxes?
How many loopholes are there?
As many as they're willing to pay in campaign contributions to have inserted into the tax code.
The top 400 earners in the U.S. paid an average tax rate of 18 percent, according to a Bloomberg TV report noticed by Think Progress. And though that's a far lower rate than the 26.5 percent that many families making less than $100,000 pay annually in taxes, some of America's super-rich have been able to whittle their tax bill down even more, paying a tax rate as low as one percent, according to Bloomberg.
How? Many of the super rich take advantage of a variety of tax loopholes to lower their tax burden. For some of America's rich, most of their wealth comes from stock appreciation, according to Bloomberg, which some billionaires don't end up defining as taxable income.
These findings echo earlier reports, which suggest that the super rich may not be paying their full share in taxes. More than 1,400 millionaires paid no U.S. income taxes in 2009, according to an August report from the Internal Revenue Service.
In addition, 25 percent of all millionaires pay a smaller percentage of their income taxes than millions of middle class households.
But billionaires aren't the only ones that use loopholes to pay lower taxes. Thirty of America's most profitable corporations used rules like the "active financing exception" -- allowing corporations to sidestep paying taxes on overseas profits if they were derived by "actively financing" some activity or deal -- to pay less than zero in income taxes, according to a recent report from the Center for Tax Justice.
Though many super wealthy Americans and very rich corporations use loopholes to lower their tax burden, some have advocated for raising taxes on themselves. Warren Buffett became the most prominent advocate for raising taxes on the rich when he wrote an op-ed in The New York Times in August encouraging lawmakers to raise taxes on millionaires so that they pay the same or higher rate as middle class earners.
Earlier this week, a band of millionaires went to Capitol Hill to lobby Congress to raise their taxes. And they seem to have the support of millionaires around the country, nearly 70 percent of whom said in a survey last month that they support raising taxes on those making $1 million or more.
Some Billionaires Paying Less Than One Percent In Taxes [WATCH]
The top 400 earners in the U.S. paid an average tax rate of 18 percent, according to a Bloomberg TV report noticed by Think Progress. And though that's a far lower rate than the 26.5 percent that many families making less than $100,000 pay annually in taxes, some of America's super-rich have been able to whittle their tax bill down even more, paying a tax rate as low as one percent, according to Bloomberg.
How? Many of the super rich take advantage of a variety of tax loopholes to lower their tax burden. For some of America's rich, most of their wealth comes from stock appreciation, according to Bloomberg, which some billionaires don't end up defining as taxable income.
These findings echo earlier reports, which suggest that the super rich may not be paying their full share in taxes. More than 1,400 millionaires paid no U.S. income taxes in 2009, according to an August report from the Internal Revenue Service.
In addition, 25 percent of all millionaires pay a smaller percentage of their income taxes than millions of middle class households.
But billionaires aren't the only ones that use loopholes to pay lower taxes. Thirty of America's most profitable corporations used rules like the "active financing exception" -- allowing corporations to sidestep paying taxes on overseas profits if they were derived by "actively financing" some activity or deal -- to pay less than zero in income taxes, according to a recent report from the Center for Tax Justice.
Though many super wealthy Americans and very rich corporations use loopholes to lower their tax burden, some have advocated for raising taxes on themselves. Warren Buffett became the most prominent advocate for raising taxes on the rich when he wrote an op-ed in The New York Times in August encouraging lawmakers to raise taxes on millionaires so that they pay the same or higher rate as middle class earners.
Earlier this week, a band of millionaires went to Capitol Hill to lobby Congress to raise their taxes. And they seem to have the support of millionaires around the country, nearly 70 percent of whom said in a survey last month that they support raising taxes on those making $1 million or more.
Some Billionaires Paying Less Than One Percent In Taxes [WATCH]
What did they pay in capital gains taxes
Your attempt at an inflammatory headline fails miserably.
Leftists consider taking money from those who earned it and giving it to those who didn't "charity", and feel all smug and generous."Some rich people extensively donate to private charities."
That's right but a helluva lot more do not......
Of course too damn many consider special interest campaign donations as charity instead of the corruption that it is...
The top 400 earners in the U.S. paid an average tax rate of 18 percent, according to a Bloomberg TV report noticed by Think Progress. And though that's a far lower rate than the 26.5 percent that many families making less than $100,000 pay annually in taxes, some of America's super-rich have been able to whittle their tax bill down even more, paying a tax rate as low as one percent, according to Bloomberg.
How? Many of the super rich take advantage of a variety of tax loopholes to lower their tax burden. For some of America's rich, most of their wealth comes from stock appreciation, according to Bloomberg, which some billionaires don't end up defining as taxable income.
These findings echo earlier reports, which suggest that the super rich may not be paying their full share in taxes. More than 1,400 millionaires paid no U.S. income taxes in 2009, according to an August report from the Internal Revenue Service.
In addition, 25 percent of all millionaires pay a smaller percentage of their income taxes than millions of middle class households.
But billionaires aren't the only ones that use loopholes to pay lower taxes. Thirty of America's most profitable corporations used rules like the "active financing exception" -- allowing corporations to sidestep paying taxes on overseas profits if they were derived by "actively financing" some activity or deal -- to pay less than zero in income taxes, according to a recent report from the Center for Tax Justice.
Though many super wealthy Americans and very rich corporations use loopholes to lower their tax burden, some have advocated for raising taxes on themselves. Warren Buffett became the most prominent advocate for raising taxes on the rich when he wrote an op-ed in The New York Times in August encouraging lawmakers to raise taxes on millionaires so that they pay the same or higher rate as middle class earners.
Earlier this week, a band of millionaires went to Capitol Hill to lobby Congress to raise their taxes. And they seem to have the support of millionaires around the country, nearly 70 percent of whom said in a survey last month that they support raising taxes on those making $1 million or more.
Some Billionaires Paying Less Than One Percent In Taxes [WATCH]
Racist liar!!!!
