MURDER, POLITICS, AND THE END OF THE JAZZ AGE
by Michael Wolraich
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‘Pandemic Profits’ of Billionaires Could Fully Fund $3,000 Stimulus Checks for US Workers
By A Guy Called LULU on Thu, 12/10/2020 - 10:36am |America’s 651 billionaires have gained so much wealth during the coronavirus pandemic that they could fully pay for one-time $3,000 stimulus checks for every person in the United States and still be better off than they were before the crisis.
URL:
https://consortiumnews.com/2020/12/09/pandemic-profits-of-billionaires-could-fully-fund-3000-stimulus-checks-for-us-workers/
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But the reality is that if the government wants some of that money, the way Tlaib says, "Tax the rich and pay for it”, you first have to rebuild the I.R.S. to enforce collection. It wouldn't happen just by changing the tax code.. For people that wealthy it's not the way it works, it's not like just a matter of taking a higher amount from their paychecks, they hire accountant to like move things around, you know.. No more money without more enforcers. Even if they have philanthropic leanings, most would rather do something with a foundation rather than have politicians decide where the money is going to go.
It's pie in the sky without a bigger, better I.R.S.
Edit to add: You have to have law enforcement to get laws to work, what a surprise. And nobody likes a cop.
by artappraiser on Thu, 12/10/2020 - 11:33am
p.s. comes to mind it's much easier to get higher amounts from the upper middle class as they have fewer options for where their money goes "on the books", but Joe Biden has already promised several times that he will not increase taxes on those making up to $400,000 a year.
by artappraiser on Thu, 12/10/2020 - 11:31am
and this guy is a perfect example, he thinks he knows better where his money should go to help society than the government does; it's why give it to them if there's no one demanding it by auditing books, they'll just waste it, I know better.
Edit to add: It was actually the economic geeks during the Clinton administration that figured a magic number where it was easier and cheaper for the rich to pay taxes rather than try to shift money around and wait to get caught: 39%. Any higher and people start to evade and your take goes down, not up unless you spend a lot on enforcers! So spending more on enforcers, you don't in reality get much money for what you wanted it for. They paid down the debt that way, with the 39% number! A debt many economics people said could never be reduced, claiming it caused us to either have high inflation or high unemployment.
by artappraiser on Thu, 12/10/2020 - 11:47am