We have seen the future, and it sucks.

‘Let’s tax wealthy foundations the same way we tax wealthy individuals.’

30th May 2012

Read it.

It’s time we started taxing wealthy foundations at the same rate we tax wealthy individuals. Gates. Ford. Getty. Kellogg. Hewlett and Packard. Moore. Mellon. Rockefeller. Soros. These are not just the 1%, but the 1% of the 1%.

Hey, fair’s fair.

2 Responses to “‘Let’s tax wealthy foundations the same way we tax wealthy individuals.’”

  1. A. Wright Burke Says:

    The only fiscal adjustments that lead to long-term stabilization of public budgets are those that consist of spending cuts, not increases in tax revenue.

    Consolidations through spending cuts are much less contractionary than those that rely on tax increases.

    Credible consolidations driven by spending cuts reduce long-term interest rates and increase stock prices.

    European austerity has not borne much fruit because the measures tried rely too heavily on squeezing additional revenue from already heavily taxed economies.

    The only austerity that will work — untried so far in Europe — consists of credible cuts to unproductive public spending, combined with reforms that will turn the continent into a good place to do business.

  2. Dennis Nagle Says:

    Fair is fair. But apples are not oranges, no matter how you want to stretch the analogy to support an otherwise nonsensical argument. Foundations and corporations are two different animals.

    Corporations exist to enrich the executives and ‘shareholders’. Foundations do not. (In fact, I don’t think they even have shareloders, do they? I haven’t made a particular study of them, so I could be mistaken on that point.)
    Corporations exist to accumulate money; foundations exist to give money away.
    Therein lies the crucial difference, and the rub: conservatives don’t much like the causes and operations these foundations support, so they hope to take an ax to the root of the tree, all the while hiding behind a smokescreen of ‘fairness’ that can only be sustained by deliberate obfuscation.

    Nice try, but it that dog won’t hunt.