Why can’t a middle class individual use the same tax avoidance methods as the ultra rich to pay little to no income taxes?
In: Economics
It costs money to hire the lawyers to set up the loans he needs for his living expenses. These loans allow him to dodge the ludicrously low capital gains tax he would have to pay if he sold some of his stock. These loans are paid off with more loans, as he will never default. I think these can also be claimed when filing taxes. Normal people don’t have the money to pay all the lawyers, nor are they trying to dodge capital gains as they don’t own substantial stock.
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