Hacker News new | ask | show | jobs
by wolverine876 1200 days ago
> Every US person pays for taxes on capital gains

Much of America never pays such taxes and has no such investments. About 40% (? IIRC) don't have $600 saved.

> taxes ain't zero for executives of large corporations

Taxes on wealthy are relatively low, in part because capital gains, the source of revenue for the wealthy, are taxed at a lower rate than income, the source of revenue for working class Americans.

> This extreme focus on taxation of corporations is bizarre.

I don't see the argument. Corporations pay relatively low taxes, and it has a large effect on other Americans who lack government services and have to pay more themselves to cover the corporations' share.

> You can try to bullshit the IRS but they will come down on you like a bag of bricks if you feed them a load of crap.

The GOP cut IRS enforcement to the bone, and it was restored only ~1 year ago.

1 comments

Long term capital gains tax on the wealthy is 20%.

About the other point: IRS will come after you even after many years have passed so its a dangerous game of chicken to even attempt.