Reply to Taxes - where should top tax rate be set and at what %?

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[quote=Anonymous][quote=Anonymous]I think that wealthy do need to pay their share of taxes. I do, and it's how the free world works. Nurses, teachers, laborers are all paying taxes that cover services that we all benefit from. I was at a dinner party the other night and three of the very wealthy men there were bragging that they hadn't paid taxes in over a decade (legally through loop holes). I asked if they were embarrassed that their kids' teachers and the mail man were paying for their snow removal, road maintenance, police protection, fire department etc. They were a little stunned, and I was a little sickened by their attitude. And for what it's worth, one was a Trump supporter and the other two were liberals.[/quote]

It depends on the "loophole." If their income was derived from municipal bonds, for example, which offer a lower yield with the benefit that they are tax-free, is that not reasonable?

And it's doubtful that they paid *no* taxes. Even if they own stocks of publicly traded companies and have not sold for capital gains, then their companies are paying corporate taxes. They would also be paying taxes on any dividends.

This story sounds a little far-fetched, honestly.[/quote]

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