September 18, 2008
Well, at Least He's Up Front About it

Your Democratic presidential ticket at work:

Democratic vice presidential candidate Joe Biden said Thursday that paying more in taxes is the patriotic thing to do for wealthier Americans.

The fact that nobody else thinks paying taxes is patriotic, and the increase will happen to the people who are both more likely and more able to move all their money to places that won't be taxed at all seems quite lost on Mr. Biden. Come to think of it, the fact that most of you probably nodded your head and thought, "what's so unfair?" while you read the article means the point is probably lost on you too.

Taxes are a strange sort of product, one which we are forced to purchase or face being thrown in jail. If given the chance, people who do not feel they are getting their money's worth on a purchase will not purchase it. Since that's not possible in this case, those people, being able to afford things like tax lawyers and accountants familiar with, say, Swiss banking law, will instead hide their money so it can't be taxed at all. The end result? Raising taxes on wealthy people causes them to pay less than they would otherwise.

It. Doesn't. Work. It never has, and it never will. All the soft-headed wishing, pleading, wheedling, and whining in the world will never get around the simple fact that people are only willing to pay what they themselves consider their fair share. Forcing them to pay more does not in fact result in them paying more. It simply raises the incentive for them to hide what they do not wish to pay.

It doesn't work for us. We can't afford the attorneys and accountants necessary to build a neat little hidey-hole in some exotic tropical location for us. They can. They will. Only the hopelessly naive or recklessly ignorant would think otherwise.

In other words, progressives and Democrats.

See you in November!

Posted by scott at September 18, 2008 12:49 PM

eMail this entry!

Actually, even the middle class can do much of this with foreign investments.

*Get your money pushed overseas (you do have to pay income and payroll taxes initially) and let it run on their stock market. IRS doesn't see gains there. Getting it back in may be more problematic, but with a foreign bank account it's certainly doable.
*Maximize the shiat out of normal available shelters like 401K plans, IRAs, and the like.
*Use websites to order most everything you can to avoid sales tax.
*Craigslist and Ebay are your friends

It's not as large a reduction as the truly rich can get, but it can definitely help reduce your burden.

Posted by: ronaprhys on September 18, 2008 12:58 PM
Post a comment

Email Address:



Remember info?