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View Diary: WTF (278 comments)

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  •  That is just not true. (0+ / 0-)

    If you're paid a salary, people making 250K get the same type of deductions available to people making less.  There's no special "gee you make a lot of money special deduction" available to salaried employees.

    The special deductions come in when a) you're self employed or own a corporate business.  Then you can try to claim deductions for cars, deferred stock, or a bunch of other things. ; or b) you make so much money you can use those weird tax avoidance schemes that us working folks don't even begin to understand, like the passive incomes, or Cayman Islands, etc.

    There is also the lower capital gains rate, but that is not related to your income level.  So it only applies if you're able to buy stocks, but is not specific to people making more than 250.

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