Ross Perot famously proposed a "tax return on a postcard". No deductions, no anything. Just income here, tax due there. Everyone laughed him out of the building, at least until he won enough votes to sneak Bill Clinton into the White House with a pluarily of 43.8% of the votes cast (of course, every president is "elected" with a plurality of the total voting public).
Perot also described NAFTA as "creating a giant sucking sound" as it hollwed out American industry. Perot did not win, Clinton did, NAFTA passed, Glass-Steagall ended, the Interstate Banking Act passed, the Telegraph Act passed, Monica Lewinsky and Hillary Clinton became household names, and Mark Rich was pardoned. And here we are..:)
The generational wealth folks don't care if the inheritance taxes (or any other tax, for that matter) go to 100%. The current vogue among the "super-rich" is foundations, which become 501(c)3 (tax-exempt) organisations by dint of their tossing money at various enterprises - logically those enterprises who stand to create wealth for the same founders of the foundation. For example, Gates buys vaccine patents, Gates Foundation promotes vaccines worldwide. Gates himself earns very little income, but as an "unpaid" employee of his foundation, all his expenses are paid and written off by his foundation. This isn't new.
Every tax code change always embeds a leaky get-out clause for those with the best lawyers and accountants, and they are always well-informed as to where to find those leaks well before any legislation passes.
As far as the poor ol' USA goes, well, they'll just keep printing money and backing it with threats of violence to those (foreign and domestic) who fail to accept their toilet paper. At some point, the very richest will simply shut the place down and return us all to outright feudalism and disabuse us of the charade that we've been playing for over a century.
rinbaum / Stephan Rinbaum
npub1l4…dl0g0
2024-05-02 19:01:45
in reply to nevent1q…q8cw
Author Public Key
npub1l45wqz79nexmtu79lv5up74e3mjwxnntpd6pxs7pzgu0vp33w32s7dl0g0Published at
2024-05-02 19:01:45Event JSON
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"content": "Ross Perot famously proposed a \"tax return on a postcard\". No deductions, no anything. Just income here, tax due there. Everyone laughed him out of the building, at least until he won enough votes to sneak Bill Clinton into the White House with a pluarily of 43.8% of the votes cast (of course, every president is \"elected\" with a plurality of the total voting public).\n\nPerot also described NAFTA as \"creating a giant sucking sound\" as it hollwed out American industry. Perot did not win, Clinton did, NAFTA passed, Glass-Steagall ended, the Interstate Banking Act passed, the Telegraph Act passed, Monica Lewinsky and Hillary Clinton became household names, and Mark Rich was pardoned. And here we are..:)\n\nThe generational wealth folks don't care if the inheritance taxes (or any other tax, for that matter) go to 100%. The current vogue among the \"super-rich\" is foundations, which become 501(c)3 (tax-exempt) organisations by dint of their tossing money at various enterprises - logically those enterprises who stand to create wealth for the same founders of the foundation. For example, Gates buys vaccine patents, Gates Foundation promotes vaccines worldwide. Gates himself earns very little income, but as an \"unpaid\" employee of his foundation, all his expenses are paid and written off by his foundation. This isn't new.\n\nEvery tax code change always embeds a leaky get-out clause for those with the best lawyers and accountants, and they are always well-informed as to where to find those leaks well before any legislation passes.\n\nAs far as the poor ol' USA goes, well, they'll just keep printing money and backing it with threats of violence to those (foreign and domestic) who fail to accept their toilet paper. At some point, the very richest will simply shut the place down and return us all to outright feudalism and disabuse us of the charade that we've been playing for over a century.\n",
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