Quote:
Originally Posted by RIJIMMY
thats just fed, does not include state
but hey, its only the top 1%, who cares!
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Unfortunately it is in fact everybody. The top 1% generally Have tax shelters and living trusts etc. set up to avoid these estate taxes. The actual estate owner technically does not own the estate. In general all of the physical holdings are part of a corporate trust. Therefore the only thing subject to estate taxes are liquid assets.
The top 1% pay the bare minimum of taxes to avoid government Inquiry. Obama and his cronies know this. Making promises of increasing taxes on the top 1% earners is simply pandering to people who Do not understand and will never have to understand. People are within the top 1% in earnings in the country for a reason. They know how to make money and they know how to keep it. Their annual income reported is just the tip of the iceberg
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