A Bankster Flak Story
It being December also means many people are taking steps with their money, which they hope will help reduce tax pressures come April. Some people may be ramping up charitable donation efforts to secure upcoming tax credits. Others may be selling losing positions in their investment portfolios to shore up capital losses.
Whatever your efforts may be, many of you are doing it with one primary thing on your mind. Need a hint? It’s three letters long…
That’s right, TAX!
In my previous post, I was discussing Bankster Senator Warren’s proposal to: “…cancel billions of dollars in student loan debt, giving tens of millions of Americans an immediate financial boost ...This is the single most effective executive action available for massive economic stimulus.”
I lightly countered with:
“It’s rich that this comes from a Bankster Senator who has previously campaigned against tax cuts because they were only benefitting the “millionaires and giant corporations”.”
And finished off with: “That in itself is a giant and long rabbit hole we could dive into as I can already hear many of you saying: “yeah, so? She wants to tax the ultra-rich. What’s the problem with that?””
So, I figured I would take today’s session to unveil my position on this matter because heaven knows the presiding narrative of the day is that all ultra-rich people are evil, that they got to their place either by sheer luck or through abuse of many people. Such are the ramblings of many socialist parrots, without giving much energy of thought into the matter. Of course, they’re not into giving much energy for anything except taking from others so why should one be surprised?
Before going forward, I’d like to clear up a thought I’m confident is on your mind by this juncture. I believe there do exist ultra-rich people who got to their position through nefarious means. Most commonly, their riches are the product of colluding and conspiring with government partners, or, in some cases, dare I say, through government.
By all means, if they’re rich thanks to the muscle of Uncle Sam or any of his associates, tax them until they’re bled dry. Frankly, it’s not their money anyways.
Or, put another way, they brought no value to the world. Instead, they proceeded to rob, steal, and pillage.
But I assure you Bankster Warren and her ilk are not proposing taxing such individuals. Such would NOT be politically expedient, lest deep truths be revealed.
No, they’re proposing taxing those who made millions and billions inventing a new widget or service which has enhanced the lives of millions upon millions of people.
Let’s paint a picture to emotionally grasp this argument.
We know the world has an issue in bringing clean drinking water to many corners of the globe. So, humor me and imagine you have decided that you have the knowledge, education and drive to solve this problem for the world. You therefore set out to come up with a solution. You tap no help from any institution. When it comes to financing, you use your own resources, which could include your family’s savings and/or your spouse’s employment efforts. The point is no bank and no government finance your venture.
After years of toiling during the day, followed by sweaty and stressful nights of worry, and regular visits to the doctor because of unknown and mysterious stresses of your body and mind, you finally solve the riddle. It has nearly cost you your marriage and children, let alone your health. Thankfully, they hung in there through so many of the lows.
You bring your product to market, with hundreds of governments, institutions and companies willing to pay you top dollar to quench the thirst of billions of people. Within what seems like a snap of your fingers, you are rolling in money you never dreamed possible. But not only that, millions of notes of gratitude come pouring in from every corner of the world.
One day, you’re pulling up to your new swanky house in your decked out car, reaping the physical and spiritual rewards of what you have accomplished, when you notice your accountants and lawyers desperately await to speak with you. What could be the problem now?
You find out that people named Warren and Sanders and Singh and company are all furiously circling your newfound wealth. Why, they deserve a hefty cut of all that money pouring in thanks to your life changing efforts. Did they lift a finger to help you? Of course not. In fact, thanks to many of their needless regulations, your achievement was very likely delayed for years as you worked out how to play within all of their rules.
But that’s not their problem. Pay up, buckaroo. In fact, because of the riches you struck, you’re now also taxed for wealth. Pay up now. Or else, go directly to jail, do not collect $200.
OK, so you turn to your posse of professionals and say, what are my options besides paying the taxes? Oh, there are many options, dear sir. Where shall we begin? Most notably, let’s move most of your wealth offshore, into another more welcoming jurisdiction.
Alternatively, you could stop making so much money. But that means stopping bringing all that life enhancing goodness to the masses.
You then run the numbers in your mind and realize you don’t have the sort of cash needed to pay the taxes. Your only option is to sell a significant number of shares in your company which, in the meantime, has gone public. A sale of such magnitude would surely send the value of the stock through the floor, making other regulators accuse you of stock manipulation.
At that moment, you snap out of your daze and realize it was all just a dream. Thank goodness! Who needs the headache of dealing with such treacherous trolls? They spilled not on drop of sweat, blood nor tear in the labor of making your invention a reality.
Alas, your life saving discovery never happens, and the world continues being a thirsty place.
Or perhaps it wasn’t a dream. Snapping out of the daze made you realize you have only one option – move your wealth where others can’t touch it. And so, you move off to the Cayman Islands or Switzerland or Singapore, drying up any source of economic prosperity you brought to your original home.
Does this seem so far-fetched? Need I say more?
Of course, what do I know? I’m nothing more than a ranting Recovering Bankster.