I didn’t say it was going to happen, I’m advocating what should happen, I did say there was no politician Republican or Democrat that is willing to make the hard decisions right now, we are on the precipice of a major recession
That’s why we are screwed
I get it—it just irritates me when I hear talking points that sound like the ones politicians have been spouting for decades—we all know they are lying at this point.
My other point is that wealthy people really are different than we are.
They have several houses in several countries—if they are a touch paranoid one of those will be in a country without an extradition treaty with the US.
If you tax “income” they will make sure not to show any as coming to them.
If you tax “property” they will just lease instead of own.
Foundations are another example—they have been in the tax code for many decades and it seems like every rich leftist has one...the Clintons show how it is done—want a fancy wedding for your daughter just charge it to the foundation...
Another scheme is life insurance—you can borrow against it and nothing taxable is happening.
Municipal bonds—miserable investment but tax free income...
As for operating businesses—if you own several in different countries you can make sure that the profits miraculously flow to the subsidiary in the jurisdiction with the lowest income taxes...
and on and on and on and on....
and with tax accountants ready to defend them on each and every move if the IRS decides to audit anything.
The game is totally rigged—and even if a politician turned down all the bribes and actually wanted to fix it would be like holding up your hand to stop a tsunami.