Politicians protect their wealthy donors regardless of the tax laws, and the ultra-rich know it. The rich are in a better position to take advantage of tax loopholes, deductions and other ways to offset and lower their tax burden regardless of higher tax laws. The wealth gap will continue to increase as tax hikes target the upper middle-class making $400K, which will prevent the middle-class from clawing their way up, protecting the ultra-wealthy from any future competition and allowing them to stay on the top. The wealthy have merged with corrupt government officials, so government works with them to target the middle-class via higher taxes to finance more government spending, resulting in economic tyranny, which benefits corrupt politicians and the ultra-wealthy. All of the answers are correct.
Politicians protect their wealthy donors regardless of the tax laws, and the ultra-rich know it. The rich are in a better position to take advantage of tax loopholes, deductions and other ways to offset and lower their tax burden regardless of higher tax laws. The wealth gap will continue to increase as tax hikes target the upper middle-class making $400K, which will prevent the middle-class from clawing their way up, protecting the ultra-wealthy from any future competition and allowing them to stay on the top. The wealthy have merged with corrupt government officials, so government works with them to target the middle-class via higher taxes to finance more government spending, resulting in economic tyranny, which benefits corrupt politicians and the ultra-wealthy. All of the answers are correct.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
- Explanations why the ultra-wealthy want much higher taxes today include which of the following?
- Politicians protect their wealthy donors regardless of the tax laws, and the ultra-rich know it.
- The rich are in a better position to take advantage of tax loopholes, deductions and other ways to offset and lower their tax burden regardless of higher tax laws.
- The wealth gap will continue to increase as tax hikes target the upper middle-class making $400K, which will prevent the middle-class from clawing their way up, protecting the ultra-wealthy from any future competition and allowing them to stay on the top.
- The wealthy have merged with corrupt government officials, so government works with them to target the middle-class via higher taxes to finance more government spending, resulting in economic tyranny, which benefits corrupt politicians and the ultra-wealthy.
- All of the answers are correct.
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