Introduction to Common Myths & Misunderstandings
For those of you who want even more, here’s a bonus of sorts. I have been in this business long enough—since 1964, if you’re counting—to have accumulated a long list of common myths, or misunderstandings, about the tax laws. Here are five of my favorite M & Ms (Myths and Misunderstandings):
#1: How Progressive Tax Rates Work
#2: What the Flat Tax Taxes
#3: What Share of All Income Taxes the Rich Pay
#4: Who Pays the Estate Tax
#5: Relationship Between Tax Rates and Productivity
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