It’s an election year so screaming “Tax the Rich!” makes people feel good and can get someone running for office a lot of votes. The trouble is it doesn’t work. They always buy a senator to put in a loophole or they simply hide all of their assets in a country that doesn’t tax the rich. Think Panama Papers.
I have written about this topic many times before. I cannot find the original 2010 version but here is the 2013 version. In 2019 I changed the name from “The Ethics in Income Act” to “Trickle Down With a Chain Saw.”
You cannot “Tax the rich” your way out of this problem. Rich people point you in that direction exactly for that reason. Elizabeth Warren is by no means Jeff Bezos rich, but she is by no means poor. “Tax the Rich” is usually a mantra I hear her chanting. I don’t know if it is just something people told her would get votes or if she willingly participates in the misdirection.
This morning I got an unexpected email purporting to be from “Ben & Jerry”, the ice cream guys, not the company.
It’s nice that Moveon.org lets people spam me. I went ahead and signed the petition and left a comment stating it was a joke that can never work.
Now, “Trickle Down With a Chain Saw” where you give the IRS the staff it needs to enforce a Hundred Fold Rule on executives of publicly traded companies with some prison time penalties for repeat offenders, that can work. Seriously, the bottom of the wage earners get money directly without anyone in Washington’s grubby mitts getting near it. Follow the link. Read how it works.