Any more than not paying Federal income tax makes you a
traitor. If that were the case then the almost
half of all Americans who pay no Federal income tax are traitors.
This crap is a perennial favorite of Democrats, who like to
imply that rich people who don’t pay Federal income tax are somehow leeches on
our system. It’s almost always said in the context of “making the rich pay their
fair share.”
It’s become for them almost as powerful a weapon to deploy
as calling someone a racist.
“The rich” are inherently evil to Democrat class warriors. To them, the rich only became rich because they
exploited and cheated others. Or by simply and unfairly inheriting the estates of their parents who –
surprise – only became rich by cheating and exploiting others. The only way to
deal with the rich, then, is to take their ill-gotten gains for use by the
common people.
The Democrat redistribution focus is part Robin Hood; part Madame
DeFarge. In short, to many Democrats, the rich are evil monsters who get richer
and richer at the expense of others and pay a pittance of their real income to
support the operations of the government. That, in turn, means that the burden
of paying for such things as defense, education, aid to the elderly and the
poor, and all the other worthwhile endeavors provided by our government fall on
someone else.
The victims ending up footing the bill are always the poor
and the middle class. That’s pretty interesting since the poor don’t pay any
Federal income tax at all, and the middle class generally don’t pay much if any
Federal income tax either. Guess who pays the most?
Democrats know this, but they are loathe to give up their vilification
of the rich.
Which I find particularly fascinating since the major
backers of the Democrat Party are among the richest people in this country –
Wall Street investment banker types, movie stars, entertainers, currency
manipulators like George Soros, sports team owners, and, of course, the Clintons.
There are many billionaires in this crowd, and others worth
hundreds of millions of dollars. Some made their fortunes in business deals or
show business; many just inherited family fortunes. Yet they are seemingly in
agreement that the rich – including themselves – aren’t paying their “fair
share.” (BTW, nothing prevents anyone from paying more in taxes to the Feds than required; I wonder how many of these same people do ...)
I am going to go way out on a limb here and wager these big
money folks all have teams of tax accountants and lawyers to insure they pay as
little Federal income tax as legally allowed.
I’d also suggest that they aren’t worried one bit about maintaining or
even raising the estate tax – their accountants and lawyers have already
figured out how to pass along their wealth practically tax free. So it’s
very easy for them to be in favor of taxing the rich more – it won’t affect
them.
As much as Democrats love to rant against the evil rich –
and particularly at election time – their attacks are always very selective. If
you support their agenda you get a pass no matter how grave your sins; if you
are a Republican with the same exact history, you’re a monster.
Billionaire currency speculator George Soros almost
singlehandedly crushed the Bank of England, devastated the English economy, and
made himself a billion-dollar profit at the same time by short selling $10 billion
worth of English pounds; he tried to do the same to Deutsche Bank following the
Brexit event. In the past few years Hillary
went from “dead broke” by her own admission to having a family net worth
estimated at $100 million and nobody is sure exactly how. And now she’s the Democrats’ candidate for
President campaigning against the evil rich Donald Trump, railing against the rich
in her $15,000 designer outfits.
Recently she and other Democrats accused Donald Trump of not
paying any Federal income tax. This reminded me of Harry Reid’s claim that Mitt
Romney didn’t pay Federal income taxes for at least a decade. – which Reid knew
was a lie, and which was later disproven.
But the suggestion that someone running for President should
be automatically disqualified if they didn’t pay Federal income tax apparently
works for some people. (It also helps that Trump refuses to disclose his tax
returns, which makes it appear he’s hiding something.)
Now, Democrats and their friends in the media are having a
field day over an illegally leaked filing by Trump that showed he took an almost billion-dollar loss in the 1990s.
Of course, that would have enabled him to use that loss against future
earnings for many years, and by doing that quite legally not be liable for
Federal income taxes at the same time. So the Democrat and media focus has to
shift a bit – not so much as defending his use of the tax laws, which they
should in fairness – but hammering more on his billion-dollar hit as evidence
that he’s not a smart businessman after all.
Notably absent is all this discussion about the patriotism
of paying taxes are the 47%-48% of all Americans who also – and quite legally,
via various tax credits and subsidies – don’t pay any Federal income tax. Shouldn’t
they be paying their “fair share” as well?
So here’s the question: Should you be demonized if you take
advantage of all the credits and subsidies legally available to you to reduce
the Federal income tax you pay?
Apparently it depends on who you are. And how you vote.
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