The talking heads explain to us how the rich is paying too much or not enough. Proposing 35% tax is practically indication that one is a communist or at least a socialist, while others propose higher rates …In point of fact we have a somewhat socialist government with ‘progressive’ tax system. We all know what we are…it’s the price we don’t agree on.
The tax rate discussions are just a misdirect argument by the rich, they don’t give a sh…about the 2%, but as long as we are talking about it we aren’t talking about the tilted playing field.
Facts: 50% of the people do not pay any income taxes, 99% of the wealth is owned by 1% of the people. 90% of all millionaires are millionaires from Real Estate.
Currently the government, meaning the middle class subsidizes the 50% who pay no income taxes. Also…The famous 1% who owns 99% of the wealth are in effect not paying a living wage to 50% and we as a society acknowledge it by making laws that exclude them from paying income tax. In truth the middle class are subsidizing the 1% by allowing them Not to pay a living wage because “they need to accumulate wealth to give us a job” instead of mandating a bigger minimum wage or let the 50% suffer from lack of services, the middle class has agreed to help out the 1% allowing them not to pay a living wage. The 50% who pay taxes support the 50% who do not and the 1% gets the benefits...the Level playing field...oye
The rape of the middle class is really done in the deductions…all kind of exceptions from paying taxes. It’s not the tax rate but it’s how much of the income gets sheltered by imaginary deductions. Because 90% of all millionaires are millionaire from real estate, I limit this to real estate.
Facts: homeowner is allowed to deduct interest, taxes and some expenses. When the house is sold up to $500,000 can be exempt from capital gain. But if you lose your house to a Real estate investor he is allowed the same deductions plus depreciation and when sold they get an exemption from paying taxes on appreciation. In other words the rich gets far lower carrying costs and no taxes on appreciation. The combination makes the playing field so tilted it actually rains money on the rich.
It is against god's law to have 2 different laws for the same property. It’s not really the kind of property that makes it depreciable but it’s who owns it. Depreciation is so ingrained in us we think it as a natural law…after all cars depreciate. Depreciation is an imaginary figure, a pretend expense that assumes the asset will be worth 0 or a lower value in 30 years, so depreciation is a way of recovering that money. But when it comes to real estate we know that in 99.9% of the time the property appreciate a lot in 30 years so why allow depreciation? Why add an imaginary expense to every single commercial building but non to private home? That is how the rich cheat!! Depreciation is imaginary, not real, doesn’t really happen, evidenced by the fact that building appreciate not depreciate (in the long run), so why allow a deduction we all know is not real? To shelter income that’s why!! Shelter sounds good…shelter from what? Not paying taxes…
Depreciation Is an imaginary double deduction that shelters real income. An investor or a corporation is allowed to deduct all his expenses on fixing the property. This means he is allowed to reverse depreciated value and is allowed to deduct the expense Why then depreciate the property? If the government wants to really encourage home ownership it should allow this double deduction to private homes. We would be allowed to deduct annually 3% of the value of the home from our taxes...IN 30 years the government would pay for your home!! and you would still have it. this exactly what happens for the rich. Real estate is real estate but not really. If a rich man bought it and leased it back to you, then he converted a non depreciated asset to depreciated asset...magic? He can now depreciate it!! After a while the property will be depreciated to 0 on the books but the investor will continue collecting higher and higher income…this is because he kept maintaining the property and kept deducting the expenses …so depreciation becomes a double deduction!! But we are told that the rich will eventually pay the taxes when the property is sold. Not True!! If the investor buys another property he pays no taxes on the appreciated value even if it’s 100 million or a billion dollars in profits…. no taxes!! so…artificially reduced taxes on income and no taxes on appreciated asset. Since most of the income is sheltered, meaning only a very small portion of the income is taxable, what does it really matter if the tax rate is 32 or 35%?. Pure unencumbered wealth accumulation, void of taxes is allowed for the rich. …Over 90% of millionaires are millionaires from real estate.
The facts clearly suggest that those exceptions allow the rich to amass equity by folds faster rates than middle class….A Level playing field? It is so tilted it rains money on the rich…To level the playing field the middle class ought to be allowed to treat their real estate the same as the rich man's real estate...depreciate it. As long as we arent talking about that....the rich are good.
Unfortunately the middle class isn’t complaining loud enough because they think ‘muscling’ the weaker is natural….when organized they too become rich and powerful…such as government employees or the teacher Union they too end up screwing the rest of us…neither group belong to the government medical or retirement system, government employees, the president, senators and congressman and teachers to name but a few, got a better one, their own….this way they do not average down, they aren’t subsidizing the poor …Government employees make laws about social security and medical programs but are not part of the system…because they have a far better system!! We are all jealous of it. Is that normal? I thought this was illegal…I thought that’s what the American revolution was all about the ruling party not having skin in the game?
Tell that to our government employees and politicians; tell them that before they write any laws they should have some skin in the game….otherwise they are acting like rulers not partners.
Governments run by elected officials who get their campaign financed with public money…sounds really democratic but in truth it is a code word for the rich. The rich supports the congress for their survival…Money for reelection … We all know how strong our survival instincts are. This is evidenced by all the lying politician and the supreme court who allowed super-packs...Any individual can spend any amount they want on behalf of the politician...The rich are Hooking the politicians into unlimited supply of money...which they can shoot directly into the politician's vein.
Then …the revolving door…and GE donates money, Exxon donates money…and we have laws limiting their taxes…We are assured its needed… Everyone knows Money for campaign must flow and that money comes from the 1%... the government elected officials become “like a puppet”…but the puppet masters do not change…they are writing checks to both parties, their sacrifice to the god of money.
“Kiss me” said Al Pacino in Dog day afternoon, ‘why’ asked the policeman, “because I like to get kissed before I get fucked” responded Al.
“Is your advertising working?” “Sure, we advertised for a night watchman, we got robbed”, of course our government officials do not act like night watchman, more like owners…
The system is rigged and we keep asking the thieves to fix it…and they assure us it’s too complicated for us and they keep on fixing it…The are doing a great job evidence by the fact that the gap between rich and poor keeps expanding….the banks were too big to fail…great… so we have fewer banks… But, don’t worry we have regulation that will control our donors…and we keep on believing this sh…
“Again I tell you, it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God."
Jesus knew…the rich are being tested by god … Jesus concluded: most if not all rich people fail the test!!.... What if Jesus is right?… What if there is a god who is connected wirelessly to our subconscious and is able to read our thoughts? What if there is truly a reckoning?
The Torah commands us to give 10% to the Levites that is what we call a Levied tax, I have heard a lot of Christians and Jews tell us that the law should be 10% tax….that’s not accurate, there is another law asking people not to cut the corner of the field leaving some Charity for the poor….that means that the 1-poor should pay no taxes, middle class 10% and the rich 20%. Flat tax no imaginary deductions. Charity = she –eraty = my left over.
2-Our elected officials ought to be allowed only one term, this should apply for all congressman senators and presidents. ….this means they will have no need to raise money for reelection.
3-All new government employees must join to the government retirement and medical programs…Once they have skin in the game…the laws will change
4- Change the name of the Criminal Justice system to the victim justice system which is the Biblical system, make sure the victim is represented by the system and indemnified. Once the name is change we will begin to rethink the laws from the point of view of the victim. No victim = no crime. The point of biblical law is to indemnify the Victim. It should be the overriding goal of the system.