You likely saw that most uber-billionaires pay little or no income tax.
I have nothing against these folks for acting rationally and legally. I would, too. My beef is with those who resist taxing them in ways they CAN’T legally avoid. Not because we don’t like and admire most of them, but because – with a country to rebuild — we need them to chip in.
This seems a good time to re-plug Tax The Rich: How Lies, Loopholes, and Lobbyists Make the Rich Even Richer (chock full of New Yorker cartoons!), by the Patriotic Millionaires.
If you happen to have income above $1 million and/or net worth of $5 million or more, and are patriotic, don’t be shy — join their number.
Another viewpoint — from two former Israeli ambassadors.
. . . Baruch and Liel say that they “learned firsthand about the reality of apartheid and the horrors it inflicted.” And they relate South Africa to current conditions in the West Bank, where Palestinians are forced on to smaller and smaller tracts of land. . . .
BONUS: WE ARE DOOMED
Quote of the Day
Your average Wall Streeter, faced with nothing profitable to do, does nothing for only a brief time. Then, suddenly and hysterically, he does something which turns out to be extremely unprofitable. He is not a lazy man.~Fred Schwed, Where Are the Customers' Yachts?
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