Bloomberg News reports:
“The (strategy) allows individuals to defer capital gains taxes on any profit from the sale of the assets, and receive a small upfront charitable deduction and a stream of yearly cash…
So if the 47% — which includes people on retirement income who simply aren’t making enough to pay taxes, children who either aren’t working or who are still considered dependents on their parents’ tax forms and therefore pay no taxes themselves, the disabled (many of whom work as much as they are permitted to work, but are considered incapable of holding down full-time jobs, whether or not it’s actually true), and people living in poverty whose income simply isn’t high enough to pay tax on, no matter how hard they’re willing or capable of working — If all those people are part of an entitlement society, then what, pray tell, is Mitt?
