Tax Evasion

"Okay, some Republican politicians argue, but the tax cuts increased the value of all stock, including stock held in IRAs and 401(k)s. Not according to a Federal Reserve study, which found that the tax cuts did not raise the value of stocks. So who gained from the cuts? The top 10 percent of households, who own 70 percent of all taxable stocks, and especially the top 1 percent, who own 29 percent. It gets worse: 54 percent of all income from capital gains and dividends goes to the top 0.2 percent, a group only slightly larger than the 30,000 who leave taxable estates. These folks�the ruling class�derive a third of their income from capital gains. They are taxed on that income at a lower rate then most of us pay on our wages. And we must also pay payroll taxes. They pay no payroll tax on their capital gains. "