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Re: SOROS post# 75130

Monday, 02/18/2013 12:10:01 PM

Monday, February 18, 2013 12:10:01 PM

Post# of 122337
They get the max.
Unfortunately, they have many opportunities for deductions that the majority of Americans don't.

Capital Gains?.......
Hedge funds can collect billions and get a 15% income tax rate.

Mortgage interest?
"According to a study by The Wharton School at the University of Pennsylvania, mortgage interest deductions for households with incomes between $40,000 and $75,000 average just $523, while households with incomes above $250,000 enjoy an average write-off of $5,459, or more than 10 times as much.

You must itemize on IRS Form 1040 Schedule A to claim the deduction. If you do, you can also deduct the interest paid on a second home. The rich do both, but most of the middle class does neither."
http://www.bankrate.com/finance/taxes/tax-deductions-favor-rich-4.aspx

Inheritance tax?
This is money that is not earned but bequeathed.
The person that is taxed is dead.

-------------------------------------------------

Please!
Consult your Tax preparer and ask a few questions!
You post like you're completely naive.





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