We often get clients whose taxes are quite complex; no one really understands the tax code and much of it is subject to interpretation. That’s why Turbo Tax, HR Block, CPAs and lawyers have made an industry out of attempting to unravel something that need not be complex. As have lawyers and defense teams to help dig people out of a hole when they do make mistakes and run afoul of the IRS (we’ve all seen and heard these ads on TV and radio). Obviously the Uber-rich (which democrats target in public and coddle in private) have armies of lawyers to mitigate any impact so ANY non-across the board tax cut plan will hit most working Americans rather than the rich.
But even if you love class warfare, why would ANYONE want to target the rich with greater rates of taxes ? This is economic idiocy at its best. Even if you don’t particularly LIKE the rich, there are only 2 things they can do with their money—spend it or invest it. Spending it creates an incredible amount of downline high-end and manufacturing jobs. Investing it does the same and promotes economic growth. Taxing it pulls it out of the economy — it CAN be for a bond-fide public good like defense or infrastructure — but is more often than not for some obstructive law so a bureaucrat in a tie and Washingtonians can live high on the hog. Writing rules no one can possibly follow or social impact reports no one will ever read. And hanging around country clubs and cocktail parties spending YOUR money.
The only meaningful thing that government might wanna do with the Uber-rich is perhaps create an environment where they want to spend and invest their money HERE.
So it bemused us when the present regime hired north of 80,000 additional IRS agents and stated it was to target the wealthy.
Obviously if you really WERE going after the super-rich, 800 would do. And even these 800 would likely have to plea-bargain in that super rich folks have armies of lawyers to fight them. There just aren’t that many super-rich folks to justify such a huge influx of agents. Nor, compared with the huge amount of working class individuals, is there, really all that much money there. Confiscating the wealth of all the billionaires and neo-billionaires in our nation would run our federal government for less than a month. In fact, given that the rich can only invest or spend money (just like anyone else) most of that money goes to pay the salaries of workers in corporations that make and do things for them. Where the REAL money is.
So why were they hired ?
To go after the man in the mirror. You.
In fact, it baffled us how anyone would support this—not realizing the ^tax cheats^ were actually themselves. Some small business that missed some esoteric detain in withholding or a working family with a side business to help make ends meet. That were doing the best they could with their taxes but made some mistake somewhere. Not the few hundred or thousand millionaires but the hundreds of millions of working class families and small businesses. Amid platitudes of paying their fair share by democrats that fair share was to be extracted from millions of working class families and small businesses who didn’t have the resources to figure out a wholly unworkable tax system.
Of course, we at D-J knew this was coming and advised our clients accordingly.
Diatomaceous-Johnson 