Does tax avoidance trickle down?

(nber.org)

5 points | by hhs 10 hours ago ago

3 comments

  • condensedcrab 10 hours ago

    Tax avoidance for most W2 workers is basically impossible without committing blatant fraud.

    Tax avoidance for the 1% has many more loopholes to exploit (depreciation, etc).

    Simplify the tax code!

    • billy99k 9 hours ago

      When anyone asks for a 'simplified' tax code, it's going to mean little or no deductions for mostly everyone. Is this really what you want?

      I also really don't know know how much easier you want them. If you have one W2 for one job, your taxes can be done in an hour on a Saturday.

      • condensedcrab 5 hours ago

        More so that the 1% have fewer loopholes, not the other way around.

        Regular folks filing taxes don’t have particularly difficult returns, but if the government already knows what you owe/get back, why waste everyone’s time? Obviously deductions exist for a reason, but standard deduction folks shouldn’t have to file to confirm that their number matches what the IRS already calculated.