“That’s silly.. If you accused me of hypocrisy on those grounds, I’d say “you caught me.. I’m a rich guy not paying taxes.. Oh wait, isn’t this what I’m trying to ‘change’?” You’re practically doing his work for him.”
why is it silly?
If Obama is so bent on the “fairness” of the rich paying their “fair share” - then why doesn’t he channel those funds into taxable investments?
Why is it “fair” for other rich folks to pay taxes - but not him?
Right on. It appears some people here have completely missed the point. Obama talks of raising capital gains taxes because it’s the “fair thing to do”. He’s all for the “rich” paying taxes, yet he chose tax free investments to park his money. These democrats don’t exactly practise what they preach, do they.
“Why is it “fair” for other rich folks to pay taxes - but not him?”
He pays taxes, just not on interest earned on municipal bonds, the returns from which are, by law, untaxed.
Because they’re untaxed, they pay a lower interest rate
than taxable (and otherwise comparable) investments. Hence, municipalities are able to borrow money cheaply, which is good for you if you don’t want to pay higher property taxes to finance schools and firehouses and all the other things municipalities provide.
I just don’t like seeing someone criticized for doing something perfectly legal, common, and actually beneficial. He’s lending money to towns, and the law says that he doesn’t have to pay taxes on the meager interest they give him in return.
If he wants to change the law, fine, as long as he’s going to continue to obey it. When he does something against the law, I’ll criticize him.