> The rich person just saved $25 million that would have otherwise been taxed.
In this example, wouldn't it have cost this person $50 million dollars though?
In this example, wouldn't it have cost this person $50 million dollars though?
In this case the rich person is spending $50 million dollars to save the tax on $75 million? Makes zero sense.
Jerry: How is it a write-off?
Cosmo Kramer: They just write it off.
Jerry: Write it off what?
Cosmo Kramer: Jerry, all these big companies, they write off everything.
Jerry: You don't even know what a write-off is.
Cosmo Kramer: Do you?
Jerry: No, I don't.
Cosmo Kramer: But they do. And they're the ones writing it off.