Taxation in the United States

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The United States of America has separate federal, state, and local governments with taxes imposed at each of these levels. Taxes are levied on income, payroll, property, sales, capital gains, dividends, imports, estates and gifts.


  • Well, that’s the ordinary income. These great fortunes were not made through ordinary incomes. So you probably have to look to the capital gains rate and the estate tax if you want to, you know, create more equity there.

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