Tax Code: Here’s Who Benefits Most

The tax code provides leniency to low-income and high-net-worth taxpayers. This begs the question: Which group receives the greatest generosity? Low-income taxpayers can receive refundable credits like the earned income tax credit, which makes it possible to get back more money than they paid. Wealthy taxpayers benefit greatly from step-ups on this basis which wipes out an unlimited amount of capital gains tax. An unlimited tax exemption is rather generous and maximizing is pretty much impossible!

So, who gets what? And what does this mean for each of us?

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