Bernie’s back from his heart attack, doubling down on taxing “the rich” to transfer payments to the deserving poor. If you think he’s talking about “other peoples money from the billionaires out there, think again.
Don’t forget dear Leona Helmsley. She famously said “Only the little people pay taxes…” and it’s probably only because of the related publicity that she got caught.
The average person can’t avoid paying taxes, but the extremely wealthy routinely and legally avoid taxation. Billionaires will not be paying more taxes, they will be deftly avoiding them regardless of what Bernie says.
It’s done through what is effectively corrupt influence of the government, financing campaigns and then lobbying for special exceptions, exemptions, rules and laws that allow avoidance of taxes.
If you’ve managed, through a life long application of frugality, savings and simple tastes, to accumulate enough money for a secure and continuous retirement, you’re probably not one of these super-wealthy influential individuals. You don’t have the means to move the money off shore into anonymous accounts through multiple foreign shill corporations, not for profit organizations, foundations or other mechanisms. If you can’t hide it, you’ll pay taxes on it.
Never forget that all the tax deferred savings looks good sitting in the IRA accounts, but it’s on the record, linked to your social security number and ripe for Democrat “OPM” picking. In fact it is a huge basket of low hanging fruit for these socialists to mine at will. They can’t wait to get their hands on it.
“But it’s mine!”, you say… Well if you’d have paid 18% on it when you earned it, count on paying 35% taxes on it when you withdraw it under Democrat rule. That’s a very simple change in law targeting “the rich” that happened to scrimp and save all their lives instead of living them on credit or welfare.
Anyone with any level of security or comfort in their lives through responsible living is at risk. The sooner everyone understands this, the better. The middle Americans that routinely swing elections are the ones most at risk. And the people in the middle without savings or security that want to live responsibly will likely give up in the face of higher taxes and the siren song of government transfer payments.
“Big government” starts with cynical corrupt politicians having access to too much money, turning influence into “power” currency. Political money has no value unless you leverage it as power. Both conservatives and liberals follow this principal. The difference is that by embracing socialism, the Democrat political machine sees a viable faster path to power