In June of this year something the NY Times (June 24, 2019) called the Billionaires’ Club addressed a letter to all presidential contenders. These 18 vastly wealthy individuals appear to have said, “raise our taxes, we need to pay more!” But is that really what they said? Or are they signaling endorsement of Senator Elizabeth Warren’s latest tax plan to the candidates. It’s also important to note the 18 billionaires signing that letter were almost all financial supporters of extreme left wing causes including a man who lives behind a wall protected by armed guards, George Soros.
This “letter” is nothing but a scheme in the style of carnival promoter, P. T. Barnum. Any of these opulent folks could send Uncle Sam more money, millions in fact, right now, this very moment. But instead they chose a publicity stunt appearing to beg to pay more, but the caveat is it must be through Liz Warren’s latest Soak the Rich contrivance. That sends a message to the other dwarfs madly dancing around the tax campfire that big money Dems support Warren’s plan while making themselves appear generous to the gullible.
Undoubtedly most of these fat cats don’t have taxes withheld like most of us, they file their taxes quarterly on their trust fund earnings. Any or all could instruct their money managers to add several million to each payment. But that’s not the plan. Don’t think their team of accountants keep their jobs finding ways for them to lose money. And don’t think the billionaires have no elaborate plans in place to shield their income from taxes. The system they berate publicly is the system them embrace privately. Wasn’t it Joe Biden who made between $500,000 and $1.2 million using a tax loophole President Obama would tried to close (Washington Examiner, July 10, 2019)?
Ask yourself what might be hidden in Warren’s Tax Plan that would actually tax more than the so-called one percent? Somebody beside the billionaires will have to pay for all their “free stuff.”
This letter is just another farce they toss against the wall hoping it will stick.
So the next time a candidate calls for the wealthy to pay more, tell them billionaire Democrats begging to pay more tax or anyone, for that matter, can pay more now. Nobody is stopping them.