If this isn’t the most compelling advertisement for the Flat Tax…I mean, really. If highly educated, Washington insiders, that can afford the most prolific accountants known to man can’t figure it out, how does the common man?
Perhaps it’s not a matter of understanding, but evasion. Wouldn’t a guy who’s the “foremost expert” on financial markets, understand the tax code? Particularly if he’s vying to be Secretary of the Treasury? Geitner was lucky to be confirmed. Had it gone one week longer, he would not have been.
And, just how much do you have to make to OWE $128,000 in taxes? Nannies, maids, drivers, millions….and these are Democrats? As Leona Helmsey famously said,
“We don’t pay taxes. Only the little people pay taxes.”
Oversights and misunderstandings, ignorance and avoidance…but, you, my fellow Americans should forgive such slight and irrelevant faux pas because they’re just so damn smart. To quote our President:
For once, the IRS are heroes….
Taxman, The Beatles