There’s Rich Poor and there’s Poor Poor.
2007 December 7
Will Smith talks about being rich poor - when you make a lot of money but you can’t keep it. At age 19, he owed almost $3 million to the IRS. So, for the first three years of “Fresh Prince”, his wages were garnished by 70% by the IRS. You can watch him talk about it on 60 Minutes:
[youtube=http://www.youtube.com/watch?v=_rmuYFC5pLU&rel=1]
(Hat tip: Tax Prof)
