TurboTax maker Intuit spent millions in record lobbying blitz amid threats to tax prep industry - OpenSecrets News
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TurboTax parent company Intuit spent millions in a record lobbying blitz amid government scrutiny and threats to the tax prep industry.

TurboTax maker Intuit spent millions in record lobbying blitz amid threats to tax prep industry::undefined

  • grayman@lemmy.worldEnglish
    16·
    9 months ago

    Over 90% of tax revenue is collected from less than 10% of the population. Tax the rich is a campaign lie. It already happens. About 50% of adults pay net 0% or get out more than they put in.

    The middle class is shrinking and the wage gap is getting worse partly because of the progressive tax system. Only the top 0.1% have the ability to not care about taxes. And even if you taxed them at 100%, they have the tools and money to avoid paying taxes on the vast majority of their wealth.

    • hglman@lemmy.mlEnglish
      4·
      9 months ago

      Tax as a wealth transfer is exactly how to close the gap between rich and poor. You can see the picture but you have misunderstood how the elements relate. Not allowing the 0.1% to escape taxation is exactly what has to happen.