Posted by tjdub on February 09, 2012 at 12:03:58 from (208.28.88.253):
In Reply to: Re: Up date on taxes posted by NEBeef on February 09, 2012 at 06:00:27:
> Do you think Romney's 15.5% rate is a fluke?
Yeah, the very wealthy often pay almost no tax at all. For example, Steve Jobs wasn't paying income tax. His $2 billion was tied up in shares of Apple. He didn't sell any stock, he just borrowed against his stock and lived off of borrowed money. No income to pay tax on. Now he's dead and his widow can sell the stock and not pay tax on the capital gains that happened before his death. The "death tax" isn't completely gone (yet), but she will probably have to pay some tax out of his estate that way (unless there are other loopholes). Very wealthy people have the means to shelter their wealth from taxes almost entirely. It seems wrong to me, but it's probably never going to change.
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