Rich people don’t pay tax. Everyone else does. We tell you why, and how to fix it.
People’s Tax Page is proud to debut our Personal Finance section, offering basic advice to those just starting out. We also profile the most important economically-related stories around the internet from this week.
Reading into Joe Biden’s taxes shows us that he is rich but not avoiding taxes like most of his rich bretheren (and sistren; tax avoidance doesn’t discriminate by gender). New observations from the IRS data continue to arise; this week, it was an astonishing drop in charitable giving. A disagreement between economists for the ages. See what you may have missed this week!
This week, news of a good economy is somewhat hampered by the fact that it is not good for everyone even though it is great for those at the top. Similarly, tax cuts favored… those at the top. In broader discussions, the Washington Post makes a similar proposal to ours on taxing the wealthy, millennials are struggling to gain a foothold in an workforce increasingly designed to keep the jobs among those with jobs, and a look at federal tax distribution reveals that red states are the ones benefiting from the redistribution they despise so much.
Thoughts on Amazon, #taxtherich week, and veterans getting tricked into paying for their tax returns - you can find it here!