Forbes: Tax Brackets Are A Fiction And Barely Apply To The Wealthy (October 12, 2020)

Forbes has published an article, “Tax Brackets Are A Fiction And Barely Apply To The Wealthy,” which discusses how the wealthy have lowered their technical burden. The article begins as follows:

I stumbled across a discussion on Twitter of what top tax rates might be reasonable and how much tax the wealthy should pay. The discussion was fine so far as it went, given the inherent brevity of tweets.

But tax brackets, besides a tool to implement—in the legal and economic sense— a progressive tax structure that increases taxes as someone’s income grows, often are a way for the wealthy and powerful to bamboozle everyone else.

Click here to see full article: “Tax Brackets Are A Fiction And Barely Apply To The Wealthy”

Posted by Elise Kim, Managing Associate Editor, Wealth Strategies Journal.

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