Perspectives on where our world is heading from a vantage point in Denver, Colorado.
23 October 2008
The Rich Cheat More On Their Taxes
High income taxpayers are much more likely to pay less than what they are required by law to pay than lower income taxpayers. In the $500,000 to $1,000,000 per year income range, more than 20% of taxpayers cheat on their taxes, and "because of their higher noncompliance rates, those with true incomes of $200,000 or more received 25% of all income, but accounted for 40% of net underreported income and 42% of underreported tax in 2001[.]"