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General News    H3'ed 12/29/15

NYTimes Reports on Tax Loopholes Handcrafted for the 400 Wealthiest Americans

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The very richest are able to quietly shape tax policy that will allow them to shield billions in income.  They have financed a sophisticated and astonishingly effective apparatus for shielding their fortunes. It includes tax loopholes quietly slipped into law by their bought-and-paid-for politicians.  It also involves a phalanx of high-priced lawyers, estate planners, lobbyists and anti-tax activists who exploit and defend a dizzying array of tax maneuvers not available to taxpayers of more modest means.  Result: The effective tax rate of the 400 richest Americans is the same as the tax rate for a middle-class family of 4.

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At www.nytimes.com

 

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Josh Mitteldorf, a senior editor at OpEdNews, blogs on aging at http://JoshMitteldorf.ScienceBlog.com. Read how to stay young at http://AgingAdvice.org.
Educated to be an astrophysicist, he has branched out from there to mathematical (more...)
 

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