Paying Their Fair Share

It's a myth!

Remember that old saw about everybody paying their fair share, with the rich paying more? Translated today, "You can't tax the rich!" "They're already paying too much!" "If you do that, they'll move away!" "They won't be able to create jobs!"

"Taken together, it demolishes the cornerstone myth of the American tax system: that everyone pays their fair share and the richest Americans pay the most. The IRS records show that the wealthiest can — perfectly legally — pay income taxes that are only a tiny fraction of the hundreds of millions, if not billions, their fortunes grow each year."

According to a report in Propublica, the rich are not paying their fair share. In many cases, they are paying nothing.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.

by Jesse Eisinger, Jeff Ernsthausen and Paul Kiel

 

June 8, 5 a.m. EDT

 It's nothing new. Lower taxes, and no taxes, for the rich has been going on since colonial times. Taxes were seen as unfair to the slave holders. They were considered bad for business. They still are.

Not Like Us

Are corporations people? The Supreme Court seem to think so. You know what? The court might be right. They act like the 1%. That's because they are controled by the 1% and make the 1% very rich. Their greed excludes the greater good. Well guess what happens when the rest of us can no longer can buy the junk their making?