What Is Income?
I Think It Is Any Monies That You Receive
…but actually, as we well know, this isn’t how the US Tax Code sees it. This today from Frank McPherson …
Many people think Americans pay more taxes than other countries, which is not true. Many Americans pay more taxes than other Americans, and it’s not the richest Americans who pay the most. Should everyone pay the same percentage of their income, or should the richest Americans pay a higher percentage of their income? First we need to get to a common definition of income!
“First we need to get to a common definition of income!” How hard can that be? Sadly, I think this is more true than a cartoon would have it … 