In sports, the term head-fake is used to describe the act of moving the head in such a way as to deceive an opponent as to one’s intended direction or move. The idea of a billionaire tax to tax the super-rich with the idea they will pay for all the gifts the government wants to shower on the people is such a distraction. The idea we can level a playing field that is totally tilted to favor the rich by taxing them after billions of dollars are transferred into their coffers through questionable policies is bullshit.
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| Small Businesses Provide Choice |
Politicians are about to embark on a bit of expensive theater to give the impression they can address inequality through increasing taxes on the ultra-rich, this will fail. What we need are policies that promote small businesses. Small businesses provide choice, and choice is freedom. Freedom to live as you wish and options on how you shape your future. Freedom stands in total opposition to the World Economic Forum idea that by 2030 you will own nothing and be happy.
Let us assume that what ProPublica found is true; While the median American household earning roughly $70,000 per year paid 14% in federal taxes each year, the 25 richest Americans (by Forbes’ tally) paid a “true tax rate” of just 3.4% on wealth growth of $401 billion between 2014 and 2018. If so, you can understand why those households with a $70,000 per year income are steamed. ProPublica also claims that since the beginning of the COVID-19 pandemic, billionaires have seen a 70% increase in their wealth, from nearly $3 trillion to almost $5 trillion.
So, what exactly is in this “billionaires tax bill” and how would it work? Nobody really knows because the devil is in the details and those remain few and far apart…
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