TAX LOOPHOLES ARE NOT DIAMONDS IN YOUR TOILET
It is time to stop calling specific tax benefits for ultra rich sociopathic greedy narcissists – loopholes. A loophole is not like stumbling into a diamond in your toilet; or like money suddenly pouring out of a slot machine someone just left behind.
Trust me; from 45 years of tax related advice to investors from within the securities business, loopholes have been specifically designed by Congress to benefit Billionaires, and wannabes, like Romney who is only worth $200 to $300 Million.
Loopholes are simply the product of sociopathic greedy narcissists having their way with Congress at the expense of the rest of us. Congress includes Harry Reid and many of his colleagues who are now intent on getting rid of loopholes; in hot pursuit of tax fairness? Ask the effervescent Chris Dodd what to do, as a former champion of loopholes who retired on our money. In the past, loopholes were called social engineering as they were supposed to benefit the public in some way. But not anymore, social engineering today is evidenced by all the jobs and profits shipped off shore by some of the most successful corporations in the US.
Keep in mind, the most egregious “loopholes” were passed during the Bush years!
Tea Party/Repubs are clearly the loophole defenders today, marching in lockstep against economic fairness as good pawns of their ultra rich Tea Party designers. Loophole creators have been aided and abetted by others in Congress more concerned with lobbyist’s money for re-election than revenue for the US Gov to be able to invest in our economy to create jobs. Clearly the “Job Creators” only interest has been self-interest. As they have geometrically increased their personal net worth no matter what the cost to – we the people. The cost has been the 2nd worst economy since 1776.
And the media and Congress mistakenly refer to tax favoritism as loopholes – while middle class jobs and incomes have been decimated by the “Job Creators” whose ethic of survival of the richest has left millions upon millions of Americans behind, gasping for air.