Actually, this article uses a mis-application of the "word" Income. Income in common usage is 'all that comes in'. In the tax law, it means a gain or profit derived from engaging in activities covered by federal privilege. Two different things. Other "words" used in the law that cause confusion are "wages", "employee", "employer", "trade or business". Get the facts and escape the tax scam, see Losthorizons.com.
To the progressives, who often cry about it when it benefits ever growing govt power, the free rider problem created by progressive income tax is a feature, not a bug.
I am reading the 80 20 principle by Richard Koch (which I recommend). This situation is an example that matches what he writes about.
ReplyDeleteActually, this article uses a mis-application of the "word" Income. Income in common usage is 'all that comes in'. In the tax law, it means a gain or profit derived from engaging in activities covered by federal privilege. Two different things. Other "words" used in the law that cause confusion are "wages", "employee", "employer", "trade or business". Get the facts and escape the tax scam, see Losthorizons.com.
ReplyDeleteTo the progressives, who often cry about it when it benefits ever growing govt power, the free rider problem created by progressive income tax is a feature, not a bug.
ReplyDelete