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Pass-Through Deduction (199A) Will Fuel Wealth Inequality

This really smacks quite a bit of the situation in France that led up to their Revolution that came not long after ours was completed with quite a bit of help from France. In pre-Revolution France the aristocrats, the inheritors. were exempt from taxation.  And what did the Founders of our country have to say about that?  Well, maybe most of them who were busy with the Constitution didn’t have a lot to say about it, but two of them did.  Thomas Jefferson and Lafayette had a hand in writing the Declaration of the Rights of Man and of the Citizen which includes.

Article XIII – For the maintenance of the public force and for the expenditures of administration, a common contribution is indispensable; it must be equally distributed to all the citizens, according to their ability to pay.

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Crackdown On Conservation Easement Syndications

Crackdown On Conservation Easement Syndications

I got an off the record comment from a businessman who had recently been looking into investing in one of these deals (from a different promoter) and decided to pass.  He told me “There was not a single person who I spoke to who understood what they were who thought they should exist …” I have to say that before this announcement I would have told somebody who asked me about investing in one of those things, that I didn’t think they should work, but there is a good chance that they would.  At least for the moment, more seems to be right with the world.

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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.