Do you find it sort of fascinating that the people complaining about the rich paying their fair stinking share are themselves predominately wealthy and very arrogant, too?
If anyone said to them they should have to pay their fair share before running for Congress, I think their heads would explode. But then this is what makes them the rich and very arrogant, even if they are less wealthy than those they want to shake down.
Since this “pay your share” group is in control of the internal revenue service, or believes they are, it is all up to their discretion to define wealth in the first place, along with “fair share.” No one ever seems to spell out though just what that fair share is. Or if they do know they can’t tell you. Why?
And no one seems to ever ask these people exactly what their personal fair share is? That would give us an idea what they have in mind.
Instead, they babble on about the amount of wealth of others they think government is entitled to. Confiscation is also what they have in mind but they do not like that word. That’s too course.
Fair share turns out to be more like the amount of blood a leech feels it should take from its host. As much as it wants. But that may be more subjective than they let on. How long though until government starts to believe it really is their money and they are just going to decide how much to give to you? That gets even more subjective.
I mean if it owns it all, then it is entitled to whatever it desires. You are not. Ownership is only a minor obstacle to them. The easy work around to that is they get to decide what is appropriate for you to keep, not how much they take. That solves the ownership problem easily.
Government looks at this paradigm that you can always just make more, so they can take more. It is a bottomless well, even if it is a leaking bucket. You get to keep whatever doesn’t leak out. But then government decided it wants to change the paradigm, or tweak it a little bit.
It now decides it wants to tax your unrealized gains. So instead of just taxing you on the capital gains when you achieve (realize) them, it wants to tax you in advance on what you would/will realize if you sold it or cashed it in. And why should it have to wait if you own a boatload of assets you are holding? They want their ‘fair share’ of it now.
What happens when or if those assets depreciate after they tax you on them? Well, it is all in the fair share definition. It’s not their problem you got snake eyes. House wins, you lose. I doubt very much if they are going to undervalue your assets before taking their chunk. After all, their philosophy is you can just go make more. It sees your resources as limitless while its are finite. That’s why they need to take more.
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