Not only do billionaires pay lower tax rates than working Americans, they also get to pick and choose when to pay taxes at all. Because they only pay taxes when they sell assets, if they don’t sell their assets, they don’t pay any taxes. That’s how many billionaires ended up with so little annual earnings that many actually had income low enough to qualify for stimulus checks last year (remember, the cutoff was $75,000 a year of income).
So next time the mega-rich whine about how they’re being unfairly persecuted, remember that all we’re asking them to do is pay taxes just like everyone else. This country values a dollar made off a rich investor’s money more than a dollar made off your sweat. We’re not targeting billionaires, we’re saying we want them to play by the same rules as the rest of the country. They’ve just gotten so used to special treatment that an equal playing field looks unfair. (The Patriotic Millionaires, 11 Nov 2021)
My comment: One law for the rich, another for the poor. One of the things that Epicureans have complained about for as long as there has been written history. Others applaud them as they buy legislation that suits their interests. This is not just; it is not acceptable.