Saved by depedency exemption! LOL!
This isn’t about the wealthy. They are already exempt.
Good one :) In the current edition, maybe they’re hard on Superman because he’s gringo and that he should “share” his flying powers with people who could not fly..
I might point out that socialism is most responsible for the “unfair” way Fat Cats avoid taxes. I also might point out that the easiest way to say you’re gonna reform taxes is to hunt those elusive loopholes everyone professes to hate but no one can eliminate. I’d say they never go away because, ultimately, no one wants them to. Not anyone who matters, anyway. Certainly not socialists, who whether they know it or not are trying to build an entire economy of loopholes, with government deciding instead of the ones who earned and built it where capital ends up.
Anyway, while true particular companies and particular individuals get off not paying their “fair share,” this is highly misleading. We all know the rich bear the burden of unhidden taxes. It’s no damnable secret. You can play tiddlywinks about the apples and oranges of capital gains and income tax, or selectively compare Warren Buffet to his secretary, of all people, who no doubt is rich herself. But you can’t get blood from a stone. You oughtta know you aren’t going to pay off government debt with the wealth of the 1,2,3...%. Firstly, they’re already carrying most of the load. More importantly, they don’t make enough.
You may have noticed I said “unhidden” taxes. Ah, but that leaves the other ones; the ones no one talks about. The ones without which we wouldn’t have gone on this wild ride of world wars and welfare states. Middle class and poor people pay those. It is out of them that the government will be able to limp along after rich tax dodgers have been pauperized.
I would have like that cartoon better if he had thrown Rupert Brand into space.
"The rich alone use imported articles, and on these alone the whole taxes of the General Government are levied (emphasis added). … Our revenues liberated by the discharge of the public debt, and its surplus applied to canals, roads, schools, etc., the farmer will see his government supported, his children educated, and the face of his country made a paradise by the contributions of the rich alone, without his being called on to spend a cent from his earnings." --Thomas Jefferson to Thaddeus Kosciusko, 1811.
In fact, note that since most of the delegates who drafted and signed the Constitution were wealthy, George Washington being the Bill Gates of his time, that the delegates were evidently willing to commit themeselves and their rich friends to pay for the federal government to operate.
HOWEVER ...
In Jefferson's day, Justice John Marshall had also clarified that Congress cannot lay taxes in the name of state power issues, issues like healthcare, retirement, public schools, etc., which Congress cannot justify under Section 8 of Article I of the Constitution.
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States." --Justice John Marshall, Gibbons v. Ogden, 1824.So imagine rich federal lawmaker Nancy Pelosi being the first to complain that Congress is taxing and spending way beyond its constitutional Article I, Section 8-limited powers if the rich were to once again uniquely bear the burden for paying all taxes necessary to run the federal government. And I think that the rich would make excellent watch dogs concerning putting a stop to federal taxes that Congress cannot justify under Section 8.
As this comic shows, it’s an ill wind that blows no good. Perhaps if many of the other countries are raising taxes on the rich and corporations, some of them will decide to bring their business/manufacturing back to the US which will improve our economy.
This could be a time we could make the case for a flat tax.
In his New Year's Day address, the pope blamed a "selfish and individualistic mindset, which also finds expression in an unregulated financial capitalism
I would challenge his Holiness to point to any country in the world that has unregulated financial capitalism. Any country. The Pope needs to stick to matters of worship and stay out of these economic discussions. He is clearly lacking in knowledge on this subject and does himself and his faith no favors making statements like this.
What is wrong with these writers?
The wealthy are not being taxed. Those with high incomes are being taxed.
Wealth is not income. Journalism students really should learn the difference.