Wealth Tax – That Pesky Constitution Might Get In The Way
This might be an example of how the non-binary parties (I hate calling them “third” since there are so many of them) end up having influence. I first encountered the wealth tax in the Green Party Platform while preparing to interview Jill Stein in 2012. Doctor Stein thinks it is quite a good idea.
Former DOJ Tax Lawyer Turned Lobbyist Pleads Guilty To Leaving $2.2 Million Off Tax Returns
Most tax preparers I know will tie themselves in knots to avoid documents like 1099s and W-2s not matching what goes on the return. They know from experience that if anything will get caught and cause embarrassing notices, mismatches will. The same care usually goes into K-1s, the forms used by partnerships and other flow-through entities to report income to owners and the IRS.
It turns out, however, that the IRS over the years has had a lot of trouble matching K-1 information to returns as is discussed in some detail in this article in this law review article by Valeriya Avdeev. Miller’s highest paying client was the Affordable Housing Tax Credit Coalition. If you work with housing credits, you learn about partnerships, so Mr. Miller might have been counting on IRS bumbling.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.