Re: Wealth and the Art of Avoiding Taxes

Andreas Pour wrote:

> A more accurate measure would be current net worth, but, for that you have to
> rely on Forbes, which is not really accurate at all aside from what they can
> pilfer from public records (both Forbes and the IRS can use only income / wealth
> they can trace, and people who have spent generations hiding wealth are not
> likely to get caught that way - there is actually a simple way to solve this
> problem of hiding wealth but despite all the very serious intrusions into
> privacy and liberties this simple measure will, I am confident, not be
> implemented).
> 
But, you still miss my major point.  Since people have the option of 
whether or not to realize a capital gain and, therefore, to decide when to 
report the accrued capital gain, lower tax rates result in (so-called 
wealthy) people having higher income as reported to the IRS.  That figure 
is, therefore, totally confounded and useless.

--
JRT


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