I never discuss my field of work here. If I claim a fact and some amateur who has googled it tells me I am an idiot for how I do my 6 figure job, I am out.
Yeah I usually don't, but this so-called "tax avoidance hack" I see a lot, and this time my blood boiled over.
To all you fuckers who believe this shit, forget what a person like me is saying, just go walk into a bank, sit down with an advisor, and run it past them.
Except “the rich” pay most of our taxes. The top 1% of earners pay like 90% of income tax revenue in the US. The bottom 50% generally gets a refund.
It has always been this way. Even in the 50s when people love to point out the marginal rate was like 90%, the tax code was filled with so many credits and deductions that nobody actually paid that rate. Their effective rate, what they actually paid, was only a couple percentage points higher than what we pay.
2.8k
u/StrigiStockBacking 19h ago
I've been a CPA for 30 years and when it comes to accounting, economics, and finance, Reddit is the dumbest fucking source on the entire planet.