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

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[quote=Anonymous][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 [b]three of the very wealthy men there were bragging that they hadn't paid taxes in over a decade [/b](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]

I find this hard to believe.  First it's a very inappropriate and crass thing to talk about.  Second this means all three men haven't had a W2 in over a decade.  In other words they don't have a job and live off of investments.  If they live off of investments this means they haven't sold stock in over a decade.  [/quote]

This simply isn't true.  You can have W-2 income and still pay no taxes.  Yes, you have taxes withheld from those earnings, but it you have losses elsewhere (like investment real estate tends to generate) and other deductions, then you can, in fact, pay no net taxes.  [/quote]

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