Also its easier for the rich to get around paying taxes entirely because of gaping loopholes in the tax code. For example the Tom Cruise incident in CO and not paying taxes on his "farm"
FTA: More attention is being paid to wealthy individuals who avoid paying taxes. The Denver Post reports actor Tom Cruise pays just $400 a year in property taxes for his 248-acre property in Telluride by taking advantage of a tax break written to help struggling farmers. As Tom Cruise lives virtually tax free, the state is facing a $375 million cut to education funding.
FTA: More attention is being paid to wealthy individuals who avoid paying taxes. The Denver Post reports actor Tom Cruise pays just $400 a year in property taxes for his 248-acre property in Telluride by taking advantage of a tax break written to help struggling farmers. As Tom Cruise lives virtually tax free, the state is facing a $375 million cut to education funding.