Left and Right Unified

Left and Right are Unified. How's that?

You may think the Left represents Trump resistance while the Right represents a reversal of Obama policy. But in the current tax bill, both sides, particularly those at the top, are true amigos. You see, there is no mention whatever of the capital gains tax rate. This is where the billionaires really clean up. Roughly speaking, if you pay taxes of $6 on earnings of $20, you will pay only $3 is that money arrived as capital gains. This is how the billionaires make their big money. They might have no income – just capital gains.

The billionaires of both extremes are funding their oppositional campaigns using money generated this way. Moreover, the government is indirectly funding all through tax relief the purely oppositional programs of both sides of the ideological debate. The Kochs, Soros, Buffet, Stires, and hundreds more are included. Thank you, Uncle Sam. In the meantime, it really does help to have a tax-exempt foundation to fund your every expense.

The trick is to get every incoming dollar as capital gains. The wealthy, left or right, hire accountants and lawyers to help. The rest of us live mostly on income taxed at the full rate.

The conspiracy is in place. Neither side seems to object to this scam. All kinds of arguments as to why capital gains rates are justified. But even the purest of those on the left aren’t complaining much. Of course, we expect agreement from the right. Is agreement of both refreshing or depressing? You decide.

When a company tells its executives it will pay them only in stock (such as GE), this amounts to a considerable raise if they can hold it for about twelve months before selling, any gains coming in at half the regular tax rate. The sacrifice becomes a windfall. Voila!

You love this country or what?

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