The U.S. economic system offers no shortage of loopholes allowing the ultra-rich to shortchange Uncle Sam.
Tax rates for those making >$1 million level out at 24%, then declines for those making >$1.5 million. Those making $10 million a year pay an average income tax rate of 19%. $70-$100 billion is the estimated tax revenue lost each year due to loopholes. So how exactly do the super rich hide that much money from the government every year?
Source: www.topaccountingdegrees.org
No comments:
Post a Comment