How rich get richer
From the San Francisco Chronicle:
How rich get richer: all the rest pay more
IRS scrutinizes wage earners but takes investors at their word under separate, unequal system
More from the article:
"What few of us realize is that the United States has two income tax systems, separate and unequal.
One system is for wage earners. Congress requires that your employer report your pay so Internal Revenue Service computers can check up on your tax return. Banks report interest. Brokerages report dividends. You must provide a Social Security number for each child you claim as a dependent. Congress does not trust you.
The other system is for business owners, landlords and investors. Congress does not require such independent reporting, saying that would be a burden."
Kinda makes you want to cheat on your taxes...
posted by Dave @ 6:15 PM
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