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View Diary: Won't someone PLEASE think of the 'poor rich' people? (90 comments)

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  •  It's the Same Old Trick! (1+ / 0-)
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    greengemini

    The rich pay a high rate on the teensy, tiny bit of money that actually becomes income.

    This is NOT income, so NEVER included in these studies:

    - Money earned in a retirement account
    - Money earned from municipal bonds
    - Money earned in a publicly-traded partnership (about 90% tax-deferred)
    - Money sheltered in real estate
    - Money in tax havens

    A rich guy can make a hundred million dollars, of which one million actually gets taxed -- then complain about how he's paying such a high tax rate.

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