On Tue, 18 May 2021 20:56:32 -0400, posted for all of us to
digest...


On Tue, 18 May 2021 12:01:20 -0400, Ralph Mowery
wrote:

In article ,
says...

It is easy if you have been drawing a government salary your whole
life and your bribes are in cash or laundered through your campaign
committee. If you are in business with dozens of LLCs and S corps, not
so easy.
I am still not quite sure what everyone expects to see anyway. I
imagine you will just get a peek into how rich people avoid paying
taxes. I doubt Don Lemon and Rachel Maddow want us to see their tax
returns either.



I don't see why everyone seems to obsessed with the tax returns.

The really big players have all kinds of ways to hide the money. Start
a charity and then put all your children in charge of it and draw a
salary. Start some company and write off many expenses.

I read an article many years ago about Trump had his money and there was
the Trump the business. He went bankrupt and was allowed more 'walking
around " money per month than many make in a year. Big companies went
bankrupt but never stopped, Just like the car companies and a power
company in California.

This year my IRA made a lot of money (for a common man) but no taxes are
paid on it. Next year i will have to take the RMD and some tax will be
paid on that, but it will be a small portion of the total if the stock
market does not collapse.


The reality is for most people who get the bulk of their money on a
W2, the tax forms are easy but there is not much you can shelter. For
people in business, the tax forms can get very complex and virtually
every page is a deduction or exemption from their taxes.
The system is rigged by the people who can give legislators the
largest incentives to write tax codes advantageous to them.
I bet there are real estate investor/developers and venture
capitalists all over the country hoping nobody ever sees Trumps
returns because theirs will look the same.

That's one of the reasons we will never see meaningful tax reform. All parties
will take care of themselves and their buddies first and foremost.

--
Tekkie