I know that the more money you make the higher the percentage, but is that all there is to it? How do the rich manage to not pay as much? Or do they pay as much?
In: Economics
In a perfect system, the more you earn, the more tax you pay,
The issue with the system, is there are loopholes that you can “abuse” when you have enough money to pay an accountant full time to manage your asset’s. They do things like move it offshore, buy and sell houses, buy/sell expensive artwork, etc etc, that way your value in the eye of the government isn’t that much.
When people say “tax the rich” they usually don’t mean Bob and Jill who bring home 2-10 mill a year. Those people are still relatively poor, compared to the people who earn 100+ mill a year
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