Why Are Billionaires Eager to Back Socialist Candidates Who Want to Seize Their Assets?

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Billionaires back socialist politicians who are calling for higher taxes on members of the ultra-wealthy class because the rich understand they will never have to pay those taxes as the top federal income tax rate stops at $500.000, making it easier for millionaires and billionaires to avoid paying full freight. The very wealthy make far more money on capital gains than on income and capital gains are taxed at about half the rate of income tax. Under the 2017 tax law, federally designated opportunity zones evade capital gains taxes entirely.    People with high levels of wealth pay less income tax, too.

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MJ Raichyk, PhD, mathematical decision analyst
MJ Raichyk, PhD, mathematical decision analyst
3 years ago

All this idea that the key to success in the USA is to get that education up above highschool.. is a fraud.. Cuba has free college, for all, and a friend just returned from Cuba on an exchange program, and he reported that higher edu BUYS YOU NOTHING… big degreed people are doing menial work, except for the ones that are creating a microcosm of capitalism by engaging in work that gains you TIPS because that’s not reported so completely at all… hence operating a tourist boat for europeans in vacation makes the biggest money, but the universal income gets… Read more »

Andrew
Andrew
3 years ago

Because socialists live by the modern motto: “Own nothing, control everything” Nelson Rockefeller. They transcend the idea of money in exchange for their control freak fix. Their big trend is to hide their money in charitable foundations where they can access what they need without it being subject to tax or transparency.