LOL. Workin’ folks see the absurdity in that, but those who live off the gubmint don’t think it’s absurd at all !
Many will be fine with that idea, as long as the tax-exempt foundation and capital gains remains in the tax code, and the rates from time to time can be quietly reduced, so income can be declared, then they can be raised again later.
To that, the gubmint supportees will say “fine, whatever”.
I’m just trying to point out that the people who are behind the push for higher taxes - who engineer the changes they will lobby for in the tax code - get the po’ folk to vote in higher taxes on the workin’ folk by throwing the po’ folk some gubmint free money.
Been goin’ on for thousands of years.
There was an article I read yesterday (I can’t recall where) detailing the subsidies some of the developers are being offered to build very expensive new residences. They want the jobs building and they want to lure the ultra rich. But, they are giving massive property tax subsidies so that people who dump $100 million into a luxury high rise condo in New York actually pays less in property tax than a middle class family a few miles down the road. Not just less percentage, but less dollars. Imagine if you spent $100 million on a condo, you would pay $2 million or $3 million a year in property tax if you were taxed like everyone else. That is “unfair”, I guess. So they are given a tax break.
I am not a fan of the property tax so don’t get me wrong on that point, but this is just one example of how screwed up things are, in too many ways to enumerate. Once they start screwing with the market they can’t stop and it results in an endless series of subsidies and exemptions for special classes of people and various interests including the “government’s interest”.