Perfectly Legal

Perfectly Legal

The Covert Campaign to Rig Our Tax System to Benefit the Super Rich-- and Cheat Everybody Else

Book - 2003
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One of the country's top investigative reporters reveals how the richest 1 percent of the country has rigged the tax code and other laws in its favor. Since the mid-1970s, there has been a dramatic shift in America's socioeconomic system, one that has gone virtually unnoticed by the general public. Tax policies and their enforcement have become a disaster, and thanks to discreet lobbying by a segment of the top 1 percent, Washington is reluctant or unable to fix them. The corporate income tax, the estate tax, and the gift tax have been largely ignored by the media. But the cumulative results are remarkable: today someone who earns a yearly salary of $60,000 pays a larger percentage of his income in taxes than the four hundred richest Americans. Pulitzer Prize-winning investigative reporter David Cay Johnston exposes exactly how the middle class is being squeezed to create a widening wealth gap that threatens the stability of the country. By relating the compelling tales of real people across all areas of society, he reveals the truth behind: * "middle class" tax cuts and exactly whom they benefit * how workers are being cheated out of their retirement plans while disgraced CEOs walk away with millions * how some corporations avoid paying anyfederal income tax * how a law meant to prevent cheating by the top 2 percent of Americans no longer affects most of them, but has morphed into a stealth tax on single mothers making just $28,000 * why the working poor are seven times more likely to be audited by the IRS than everyone else * how the IRS became so weak that even when it was handed complete banking records detailing massive cheating by 1,600 people, it prosecuted only 4 percent of them Johnston has been breaking pieces of this story on the front page of The New York Timesfor seven years. With Perfectly Legal, he puts the whole shocking narrative together in a way that will stir up media attention and make readers angry about the state of our country.
Publisher: New York : Portfolio, 2003.
ISBN: 9781591840190
Branch Call Number: 336.2 JOHNSTON
Characteristics: x, 338 p. : charts ; 24 cm.


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Jun 29, 2018

Reading this book is disheartening . . . so much tax evasion--not only in plain sight, but abetted and condoned by the authorities. A knowledge of accounting/finance/economics is helpful, but not necessary as the author [an acknowledged expert] graciously avoids the truly complex tax evasion manipulations. Given the enormity of the problem, we thus can be thankful that the author only gives us a "taste" of the issue. However, that "taste" will remain with you for a very long time.

Feb 23, 2014

DO NOT read this book! The author wants to dissuade you from believing America is a Workers Paradise! (Please, do not read this, you cannot comprehend it, it is too difficult for you, go watch sports or porn or something!) Also, next DO NOT read Ellen Schultz's Retirement Heist, it will fill your head with nonsense about all the crooked corporations and benefits administrators out there - - again, go watch sports, or Reality TV or Sponge Bob or Sports Illustrated super models or something.


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