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Rich Americans who pay little in taxes, how do they do it?


Do they take advantage of special investment tax credits eg. for alternative fuel investments? Or is it tax loopholes? Or tax exemptions .....?

They have a battalion of financial advisers and tax advisers whose main task is to find loopholes for their rich clients and how to hide the money from the taxman

They don't. They pay an appropriate percentage for their tax bracket. All this hype about them not paying taxes is left wing bullcrap.

loopholes and the such...

in this day and age, america is all about the rich people

its the working middle class that gets screwed cause all the tax laws work against us and not the rich

every year theres a new tax break for millionaires so they can afford that jumbo jet with bling on the wings and 5 stripper poles in the main cabin.

They don't exist, actually. The top 10% of all income earners in the US pay over 90% of all taxes. It's an old myth that the wealthy don't pay much in taxes and it obviously hasn't died yet.

Now, if we get stupid enough to elect Mike Huckabee AND he convinces Congress to pass the grossly mis-named "Fair Tax" then that WILL become true. The wealthy would get a massive tax break -- it's common misconception that they spend a lot, they AMASS wealth, not spend it -- and the poor and middle class would be crushed by the burden.

Who do you define as "Rich"?

Someone who has a lot of income? They pay plenty in taxes.

But if you define "rich" as someone who has a lot of assets, well, it's possible for them to pay little in taxes as long as their assets are not ones that generate taxes year after year.

e.g. land, in a state without property tax.
art & precious metals are only taxed when they're sold
stocks are only taxed when they pay dividends, or when they're sold
municipal bonds aren't taxed at all

Of course, all these "assets" have the downside of being hard to spend.

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