Oct 282008
From Forbes:
A new study based on unpublished Internal Revenue Service data shows the rich are different when it comes to paying taxes: They hide more of their income.
The previously unreported study estimates that taxpayers whose true income was between $500,000 and $1 million a year understated their adjusted gross incomes by 21% overall in 2001, compared to an 8% underreporting rate for those earning $50,000 to $100,000 and even lower rates for those earning less.
Now why doesn’t that surprise me?
2 Responses to “The rich cheat most”
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Richard,
A tough subject. Afterall, it is the individuals own money to begin with…..
Georges
How wrong you are
If tax is owed on earnings then those gross earnings do not belong to the taxpayer: there is a lien on them that the state can enforce, as of right. In that case your perception of ownership is somewhat misleading
Richard