KMC Forums - Peter Schiff destroys Bernie Supporter!

Over simplified argument for over simplified people. The issue has never been income tax or its rates. It's those who minimise the income they get classed as salary so they can minimise the income tax. An example being banks who pay staff a minimal salary but supplement them with share options etc that are subject to much lower taxes. People who register themselves as businesses and are contracted to rather than employed by companies so they pay lower corporation tax rather than income tax and also register their business at their home address and then claim the taxes back on furniture and electronics bought for their house but claimed for their "business". Those are examples of individuals paying less income tax than they should. That's before we get to corporations with head offices in a western country for standard of living, manufacturing or customer services based in countries with cheap labour and poor workers rights and a registered office with a single employee in an off shore tax haven