You don't have to declare 1M of income to finance a +1M million dollars lifestyle, rich people abuse extremely obvious loopholes like declaring everything as company expenses. A lot of rich people don't even pay any income tax

[–] hellinkilla@hexbear.net 6 points 14 hours ago

A friend of a friend of mine worked at inland revenue (UK IRS) and their entire job was trying to get one aristocratic family to pay taxes. And apparently there are (or were, this was a while ago) whole teams of such staff who toil awaybwith little success. Because these people have been lawyered up and hiring the best accountants for centuries, every time any tax or rule was created they got themselves a loophole or exemption or otherwise wormed their way out.

[–] Trying2KnowMyself@hexbear.net 5 points 17 hours ago

Some 20,791 taxpayers would be required to pay the tax, according to a DOR-provided summary of tax year 2028 collections by legislative district.

I don’t doubt there are more people who should end up paying it but are already using loopholes that make their income appear lower, and I don’t doubt that some of those 20k would abuse loopholes to get out of paying it, but there are 20k people who are failing to abuse those loopholes right now.

[–] Runcible@hexbear.net 3 points 16 hours ago

you can have a seven figure income at the big tech companies without being someone they care enough about that you could launder expenses