Originally Posted by smohr33
What percentage of your income was capital gains, taxable interest, and dividends?
Like MP0WER said, the ignorance of the American public with regard to the tax code is midblowing.
to be fair, you do have a convoluted tax code system in this country
i find it downright unfair that 2 people are making the same annual salary
but are paying different amounts because one guy managed to figure out all the loopholes, and has a smart tax guy
and the other just filled in his forms and is taxed higher
most countries i have lived in, the tax rate was decided by your gross income
so if you get 10 people who all make 100,000 a year
they are all taxed the same, no loopholes, no deductions, no other misc crap
this system favours the rich, because they can afford tax guys who's sole job is to sift through all the paperwork and forms to try to find as many deductions and loopholes as possible.
heck in most countries a tax guy is only used at the corporate level, not for individuals