“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.
“I just don’t like seeing someone criticized for doing something perfectly legal, common, and actually beneficial.”
Missing the point.
He is a rich man.
He is earning tax free interest.
It doesn’t matter how low or high the rate of return is.
Obama is engaging in the rhetoric of class warfare where the “rich” do not pay their fair share, and darnit! He’s going to see to it that they do.
Meanwhile - this wealthy man chooses a tax-free investment.
If he truly believes his own rhetoric, he would choose to give the government more of his own money.
Afterall - he has declared that is what is “fair”.