This is a naive understanding of the wealthy and how they pay their taxes.

True it is that the ultra-rich have quite a few tools at their disposal with shell companies and offshore accounts to move money around the world. But most rich people have more limited options to reduce taxes — from a legal perspective.

I’m pretty my family doctor and dentist pay more income tax than I earn in a year. They may have some “loopholes” to pay less tax, but they still pay a lot of tax. And many wealthy people do recognize their fortune and responsibility for a civil society. They don’t push the tax minimizing game too hard.

As well, they want to stay under the radar of tax man. If a person or corporate entity has great profits but pays little taxes, flags will be raised as a candidate for a tax audit. As one accountant told me years ago: “Always pay some taxes. You don’t want to go through a thorough business audit.”

International corporations are pretty good at gaming the international tax system. But international corporations are not “wealthy people.”

Dave Volek is the inventor of “Tiered Democratic Governance”. Let’s get rid of all political parties! Visit http://www.tiereddemocraticgovernance.org/tdg.php

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