New York Times: In 2011, [Jeff] Bezos reported so little income that he qualified for — and claimed — a $4,000 child tax credit. In both 2016 and 2017, Carl Icahn, who’s a billionaire, paid no federal income taxes.
Regarding the reports that millionaires and billionaires are not only taxed differently (unearned versus earned income tax rates), but that some pay no income tax at all, ask yourself these questions:
Do you consider yourself to be wealthy?
Do you know how many elected officials are millionaires?
Do you think that millionaires who are elected officials can effectively represent the interests of average Americans?
How responsive is Congress to the needs of the average American?
Does Congress make new laws and reform old laws to the benefit of average Americans or to the benefit of special interests and wealthy persons?
Is the federal tax system fair?
How many Americans – do you think – pay less than their fair share of taxes?
Choose one: 5%, 15%, 25%, 35%, 40%, more than 40%
Would raising corporate income tax rates negatively affect you personally?
Would raising estate tax rates (also known as death taxes) negatively affect you or your heirs personally? Choose one:
No, my estate will be too small
Yes, my estate will be large enough to be impacted
Should everyone be required to pay a minimum amount of income tax, regardless of the tax loopholes that they otherwise qualify for?
Does the IRS do a good job of collecting taxes equally, whether the taxpayer is wealthy or not?
After consideration of these questions, will you be contacting your legislators to suggest any reforms of the federal tax system?
Kenneth Athon Tax Strategies 