...IN AMERICA
FAIR SHARE...
What is a "Fair Share"? Does anyone truly know or is that a convenient catch phrase when someone who has acquired "plenty" in their political career feel terrified that the level of their wealth [and how they acquired it] could be exposed? Just asking for a friend...
Since several high-profile billionaires and millionaire [many times over] began work to build their business idea literally from their parent's garage. Is years of failure and years of risk a tax deduction? How are the thousands of direct and indirect businesses and jobs that spun off from that original garage venture measured?
The United States has 748 billionaires. So, does Senators Elizabeth Warren and Bernie Sanders and Presidential Candidate Kamala Harris believe that these 748 people are cheating the other 341,066,420 U.S. citizens? Since one third of those billionaires are liberals who contribute generously to their reelection campaigns do contributors somehow/magically get an IRS-Pass?
DOUBLE STANDARD--How about Nancy Pelosi, former House Speaker? How does Nancy feel about 'paying' her "fair-share" after hubby [Paul] dumped $500,000 worth of VISA stock prior to a Department of Justice Antitrust lawsuit? What perfect timing Mr. Pelosi! Did Paul Pelosi have his Tarot Cards or tea leaves read or did Mrs. Pelosi ‘talk’ in her sleep? Once again, just asking for a friend...
Besides blatant "insider information"' trade abuse [a violation for which Martha Stweart went to prison 2001-2002] what Paul Pelosi also did WAS realized Capital Gain! A big-one. Are the Pelosi's also going to be taxed on their UN-realized Capital Gain? Are any of the millionaires Democrat & Republican presently holding public office in the Senate or Congress going to be taxed for the increases in their stock portfolios even though they haven't sold anything? OR, do they get a pass there too while those of us living in the 'real' world on Main Street USA get taxed?
How would an unrealized tax on Capital Gains affect the vast portfolio of Democrat and campaign contributor and billionaire Warren Buffet? Would he still be a billionaire? Would any of the billionaires still be billionaires if they were taxed on the value of the investments they're holding? OR, would legislation magically appear to give their Blind Trust Accounts a 'pass'?
For those who have read and followed my blog they know I'm a registered Independent and have been for over twenty years. Why? Because I agree with and disagree with many approaches and positions by both staunch liberals and staunch conservatives eg. those with a law degree not qualified to create policy that interferes with those who have medical degrees]. Having said that, it has been my observation that mainstream media spend double the airtime and print space accusing mainly conservatives of; mis/disinformation eg. Hilary Clinton's Russia hoax and Beau Biden's laptop... [See: Working Without A Net: JOURNALISM IN AMERICA (workingwithnonet.blogspot.com)
CAREER POLITICIANS--"In the beginning..." of America, [two-term] President George Washington selected four people to serve on his four-member cabinet. Secretary of State was Thomas Jefferson, Secretary of the Treasury was Alexander Hamilton, Secretary of War was Henry Knox, Secretary General was Edmond Randolph. Each member of Washington's cabinet was from four different regions of the new Republic, but had NO party affiliation. Like the cabinet no members of Congress or Senate were from or formed separate parties nor was a party-system' ever intended. Members of Congress and the Senate were elected from various counties across the 13 original states, and they represented all walks of life: inn keepers, doctors, blacksmiths, teachers, farmers, storekeepers, book & newspaper publishers---you get the idea. But 'very-few' lawyers.
[R] Mitch McConnel [University of Kentucky College of Law] was elected to the U.S. Senate in 1985--39 years ago! McConnel's Networth in 2004 was $3.1 million--in 2024 his Network is $125 million+. [Term Limits!]
[D] Nancy Pelosi [Bachelor of Arts in Political Science - interned with lawyers Daniel Brewster then Steny Hoyer] was elected to Congress in 1987--37 years ago! In 2004 Pelosi's Networth was $74 million--in 2024 her NetWorth is estimated at $250 million+. [Term limits]
I could list everyone, but a list of the number of federally elected members in the 2022 midterm who aren't [yet] multi-millionaires—is significantly shorter. Of the 100 Sitting Senate Members [2 from each state] only 39 did/do not have a Networth in excess of 1 million. Several however rank off the charts and coincides with their numerous years in public office like: Republican Kelly Loeffler of Georgia with a net worth of more than $500 million and Republican Rick Scott of Florida whose net worth is nearly $260 million. Also among the top: Democrat Mark Warner of Virginia with more than $214 million and Republican-RINO Mitt Romney of Utah with an estimated $174 million.
As of 2020, over half of the members of Congress were millionaires and the median net worth of members was approximately $1 million. The original documents for each member's disclosure are publicly available on a database website, maintained by OpenSecrets.com.
**To be entirely impartial here 1 million in 2024 dollars can be: one house and two cars--but my issue is with the multiple terms in which some of our "leadership" has been able to return to the public trough from which they have served-themselves...
Since law-school graduates [except 5 of Biden's Cabinet] in elected public positions make the laws and only Congress can mandate Term Limits do you, Fellow Travelers - guess in the time it takes to blink, that Term Limits like Ethics in stock trades will ever be written into a Bill that passes...? ONLY, if We-The-People are able to take Term Limits and Market Ethics to the Supreme Court, would these two important issues [perhaps] ever have a chance.
CONFLICT OF INTEREST--Today our laws have laws [duplication and contradiction is rampant]. Voters are regulated beyond logic by a D.C. that is unaccountable - because routinely laws are passed that only we must comply with. eg. Senate and Congress members who buy or sell stock when they know a new regulation [they passed] will affect a stock, is the very definition of insider trading. However, they're legislatively-vaccinated from the same conduct that sends the rest of us to jail. [Blind-Trust? Yeah right!]
Ohhh! And the Networth of Kamala Harris, [D] VP running for the office of the U.S. Presidency [depending on how deep various research sources were able to dig] is between $6.75 million to $15.29 million. [Obviously a significant leap from middle-class, but that spread of $8.54 million is a significant gap. Why is that?] AND, Liz Chaney [R/D] also has a significant spread in the calculations of her Networth, which is curious: $8 million to $20 million? Daddy Dick's Networth was even more problematic to pin down, varying from: $19 million to $86 million to $150 million...Hmmm, will they be paying their Fair-Share, too?
I read somewhere that people have stupid government, because the country has stupid voters...Have we been too lazy to 'know' who we're voting for? YES. Have we been too complacent - returning an incumbent back to their position of authority [over us] because we couldn't be bothered to change or even vote at all? YES.
Am I disappointed in the candidate selection by both major parties? YES. What do I plan to do about it? I wish Dean Phillips [D] was still an option. I could write in my own name in protest -OR- Niki Haley [R] -Or- wish upon a star…
Once more Sherrie, your research is amazing but does turn ones stomach how the political establishment works. It seems "insider trading" is alive and well in American politics!
What is the old saying only two things are certain in life Death and Taxes ... As Martin Armstrong and others, have pointed out taxes were invented when there was only coins for currency and the King / or Queen at the time had to gather from the Populus (Us) a percentage of the coins in circulation to provide services to the realm. Now, since 1971 money has NO relationship to coins, gold or silver - so in actual fact the taxes now collected aren't enough to run the Government so they barrow or just print more digitally...anyway. What this means is THEY are only taxing you "to control you" ...to make you think you are PAYING your FAIR SHARE. The truth is they could do away with personal taxes completely, and it wouldn't change Government operation one bit. Hence Trump is floating the idea of removing personal income tax. The National debt would be retired turning bonds and interest into coupons that would have to used to buy Corporate debt and or shares in Corporations to stimulate the economy. There is always away out if you think like a criminal, as most politicians do. Just maybe it's our turn???