Showing posts with label Income Taxes. Show all posts
Showing posts with label Income Taxes. Show all posts

Wednesday, October 28, 2020

The Fair Tax Proposition

Here in Illinois, our governor is desperately seeking to stem the flow of red ink on state ledgers. One idea is to change the methodology used to compute our income taxes.

Illinois is one of just nine states to use what is called a flat tax. Under a flat tax, everyone pays the same percentage of their income to the state. So whether you're a struggling waitress who brought home eighteen-thousand or a professional athlete who made eighteen-million, each of you will forfeit 4.95% of your income to the state in income tax.

Governor Pritzker has proposed a 'fair tax'—an income tax with a sliding, income-based scale similar to that used by the federal government.

Predictably, Republicants loathe the idea on principle alone. But their attacks haven't ended there. As is their wont, oceans of misinformation are being distributed via any media capable of doing so.

And it's hardly a surprise that fear is weapon number-one. One hysterical ad alleges Pritzker's proposal will give Democrats new powers to levy taxes, even though the state legislature—composed of both Democrats and Republicants—already has that power.

I wonder if the Trump zombies even realize this. Probably not.

Furthermore, I'm wondering how many takes it took for the guy doing the voice-over to get through the script without soiling himself. I mean, he sounds profoundly and deeply perturbed.

Get some shut-eye, big guy!

Even more interesting than the fear-laden lies being disseminated over the airwaves is who is paying for them.

And guess what? It's the guys with the most to lose. The same guys Sir Lies-A-Lot gifted with a trillion-dollar tax break under the (cough) Tax Cuts and Jobs Act back in 2017. And not only did those guys get a big break on their personal taxes, but their businesses did as well.

Crazy Don not only sucked, he swallowed, too.

Ah. But I digress.

So after receiving this mountain of largesse, it must be a terrible shock to see one's tax bill threatening to swell rather than shrink. Don't we know who you are?

Illinois' most-prominent billionaire is a venture-fund capitalist by the name of Ken Griffin. He buys eight-figure penthouse properties like you and I do tube socks at Target. Which is another way to say yeah, he's loaded.

And to preserve that condition, Griffin is fighting tooth and nail against Pritzker's proposal. He'll tell you anything. Just don't let that proposal pass!

Now, if the fair tax proposal weren't aimed (as Pritzker claims) at the one-percent, why is Griffin pouring fifty-five million dollars of his own money into an effort to stop this thing?

Is he worried about our taxes? Nah. The folk who have essentially bought our government and steered a bevy of billionaire-friendly legislation through it have shown repeatedly they aren't terribly concerned about us. We're just profit-sucking rabble.

Nope. They're worried about staying rich and powerful. And getting richer. And more-powerful.

While I see the truth in Griffin's frenzied spending, I'm betting Illinois Republicants only see the threat of a tax increase and go into the same kind of lockstep stupor they do when they hear the words 'gun control' and will vote en masse to derail this.

Even if the only people affected are people far wealthier than themselves.

And battered, tax-fatigued Democrats may well do the same.

Out of all of this comes a strange and somewhat sickening realization. In our unthinking and knee-jerk distrust of politicians we unwittingly caress the hand crushing our larynx.

When you vote 'no' on the Fair Tax proposition, don't forget to raise a fist and shout “Save the billionaires!”

Truth.

Thursday, July 9, 2020

Samuel Alito Makes a Funny

It always comes from where you least expect it.

At least that was my thought when I read Supreme Court Justice Samuel Alito's argument against giving New York state prosecutors access to Donald Trump's income tax records.

The avowed conservative addressed the issue thusly: “The subpoena at issue here is unprecedented. Never before has a local prosecutor subpoenaed the records of a sitting president. The court's decision threatens to impair the functioning of the presidency...”

Two things come to mind. One, how timely the old joke about Republicans remains. ("You know what a Republican is? They're people who believe nothing should ever be done for the first time.")

And two, “Impair the functioning of the presidency”? Are you serious, Samuel?  Because when you put that under a microscope, it implies the current presidency is functional.

Where?

It might be that humor comes more naturally to Alito (born April Fool's Day, 1950) than any of us suspect. Maybe he just wants to have us on. I mean, Trump and the morally-stunted ghouls he surrounds himself with have been accused of many things. But functioning?

Yikes.

That is beyond the pale.

I thank Samuel for the laugh. In these dark and anxious days I very much need one. I just didn't think he had it in him.

Sorry, Samuel.