Politicians love to promise their constituents that if elected they will make the rich pay their fair share of taxes.
They say they will raise the income tax rate for high income earners. And this promise will generally net many votes, and maybe even a little revenue, but the problem is it won’t make the rich pay their fair share of taxes. That is, the tax rate change will not affect the truly rich, because they shift their income into foundations which pay no taxes at all.
A little history will shed light on how this works. In 1901, the daughter (Abby Aldrich Rockefeller) of Senator Nelson W. Aldrich, married John D. Rockefeller, Jr., the son of John D. Rockefeller, the founder of Standard Oil and the richest American of all time. (John D. Rockefeller) Then in 1913 the Rockefeller family created the Rockefeller Foundation. Three years after that, the same Senator Aldrich sponsored the Sixteenth Amendment to the U.S. Constitution, which created the federal income tax. (Nelson W. Aldrich)
Ordinary people have been paying income taxes ever since, but the Rockefellers had already sheltered their income from the tax in their previously created foundation.
Incidentally, Abby and John named their son, Nelson Aldrich Rockefeller, after his senator grandfather, Nelson Aldrich. He was appointed to the office of U.S. Vice President by Republican President Gerald Ford after President Richard Nixon’s resignation. Also, we know Abby and John’s grandson, John D. Rockefeller IV, as Jay Rockefeller. He was the Democratic Senator from West Virginia from 2010 to 2015. Obviously, money equals power in both of our political parties.
A foundation’s purpose is supposedly to channel donations to charities – it’s not allowed to donate to political candidates.
(The Tax Benefits of Creating a Private Foundation)
However, the charities a foundation supports are allowed to spend their money on lobbying the government, as long as their lobbying is related to their purpose, which may be quasi-political. Also, the creator of a foundation has total freedom to control the money they put in it, as long as their lawyers ensure that they follow the rules of the tax code. And of course, we all know how complex, mysterious, and ever-changing that code is.
You can make your own decision about just how above-board you think all this may be, but the bottom line is that raising the income tax rate on high income earners will never cause “the rich” to pay any more taxes. In fact, the only people affected by increasing high income tax rates are Mom and Pop store owners, family farmers, and other small businesses. They have to invest most of their income back into their businesses. That means they can’t afford to shelter their income in foundations.
And it’s also true that those are the very people who are already paying far and away more taxes than anyone else. Moreover, tax bills are forcing more and more of them to sell their small businesses to the gigantic mega-corporations, which are controlled by the super-rich. So raising taxes actually causes the super-rich to get even richer!
One way to make the rich pay their fair share of taxes is to eliminate foundations, but that would hurt the legitimate charities they support.
Perhaps a better solution is to vastly simplify the tax code, removing the numerous complicated loopholes that allow lawyers to find ways to skirt the rules intended to ensure that charities are indeed legitimate.
Could “the people” force politicians to simplify the tax code? Do you think the rich should be able to avoid taxes by donating their income into establishments they frequent, but working people have little time for, like opera houses or art museums? Or do you think only organizations that support the poor should be considered legitimate charities?
Should a foundation be allowed to support a voter registration campaign if it only targets neighborhoods that generally support a particular political party? What about an organization that lobbies government officials with regard to an issue supported by only one particular political party? And who should have the power to declare a charity as legitimate or not?
You can add a comment at the bottom of the page about how to improve modern political systems. Non-relevant comments will be deleted. Also, all URL links will be stripped from comments, until WordPress fixes their hacking problem.
Next post
Sources:
Abby Aldrich Rockefeller. Wikipedia. https://en.wikipedia.org/wiki/Abby_Aldrich_Rockefeller
John D. Rockefeller. Wikipedia. https://en.wikipedia.org/wiki/John_D._Rockefeller
Nelson W. Aldrich. Wikipedia. https://en.wikipedia.org/wiki/Nelson_W._Aldrich
The Tax Benefits Of Creating A Private Foundation. Forbes. https://www.forbes.com/sites/pagesnow/2019/04/08/the-tax-benefits-of-doing-the-right-thing/#5661455c3020
I have read your article carefully and I agree with you very much.
Yes, feel free to link to my site.
Some genuinely interesting info , well written and broadly user genial.
I’ve recently started a site, the info you provide on this web site has helped me greatly. Thank you for all of your time & work. “A creative man is motivated by the desire to achieve, not by the desire to beat others.” by Ayn Rand.
Excellent website. Lots of helpful info here. I?¦m sending it to some buddies ans also sharing in delicious. And obviously, thanks on your sweat!
What’s Happening i’m new to this, I stumbled upon this I have found It positively useful and it has aided me out loads. I hope to contribute & help other users like its aided me. Good job.
Hey! Would you mind if I share your blog with my myspace group? There’s a lot of people that I think would really appreciate your content. Please let me know. Thank you
F*ckin¦ tremendous issues here. I am very satisfied to look your article. Thanks so much and i am taking a look forward to touch you. Will you kindly drop me a e-mail?
Very interesting information!Perfect just what I was looking for! “Some people don’t get it when I’m being sarcastic.” by Leonardo DiCaprio.
Thanks a lot for giving everyone a very pleasant opportunity to read critical reviews from this site. It’s usually very beneficial plus full of a good time for me and my office acquaintances to search the blog nearly thrice in a week to read the fresh stuff you have. And indeed, I’m also at all times happy with the unique points you serve. Certain 3 areas in this post are clearly the finest I have had.
Hello.This article was extremely fascinating, particularly because I was looking for thoughts on this matter last Wednesday.
I’ve been surfing online more than three hours today, yet I never found any interesting article like yours. It is pretty worth enough for me. In my opinion, if all website owners and bloggers made good content as you did, the net will be much more useful than ever before.
I believe you have mentioned some very interesting details, regards for the post.
Wow, awesome blog format! How long have you ever been running a blog for?
you make blogging look easy. The whole glance of your website
is great, as neatly as the content!
Very instructive and fantastic structure of articles, now that’s user friendly (:.
Wow! Thank you! I continually wanted to write on my site something like that. Can I include a fragment of your post to my site?
Great post. I am facing a couple of these problems.
I like this post, enjoyed this one appreciate it for posting.
Wonderful beat ! I would like to apprentice while you amend your website, how can i subscribe for a weblog site? The account aided me a applicable deal. I have been a little bit familiar of this your broadcast offered vibrant clear concept
Just a smiling visitor here to share the love (:, btw outstanding style. “Better by far you should forget and smile than that you should remember and be sad.” by Christina Georgina Rossetti.
Hello there, just became aware of your blog through Google, and found that it is really informative.
I’m gonna watch out for brussels. I’ll appreciate if you continue this in future.
Numerous people will be benefited from your writing.
Cheers!
I simply could not leave your site prior to suggesting that I extremely enjoyed the standard info an individual provide for your guests? Is going to be back incessantly in order to investigate cross-check new posts
I got good info from your blog
Hey There. I discovered your weblog the usage of msn. This is a really smartly written article. I will make sure to bookmark it and return to learn extra of your helpful info. Thanks for the post. I’ll certainly comeback.
Everyone loves what you guys are usually up too. This sort of clever work and coverage! Keep up the superb works guys I’ve incorporated you guys to blogroll.
Hi there are using WordPress for your site platform? I’m new to the blog world but I’m trying to get started and create my own. Do you require any coding knowledge to make your own blog? Any help would be really appreciated!
I have learn a few just right stuff here. Definitely value bookmarking for revisiting. I surprise how a lot effort you place to make this kind of great informative site.
Woah! I’m really digging the template/theme of this blog. It’s simple, yet effective. A lot of times it’s very hard to get that “perfect balance” between user friendliness and visual appearance. I must say you have done a great job with this. In addition, the blog loads extremely fast for me on Firefox. Superb Blog!
There is perceptibly a lot to know about this. I suppose you made various good points in features also.
I dugg some of you post as I cogitated they were handy handy
Your mode of describing everything in this post is really nice, all be capable of simply understand it, Thanks a lot.
Pretty great post. I simply stumbled upon your weblog and wanted to mention that I have truly enjoyed browsing your weblog posts. After all I’ll be subscribing on your rss feed and I hope you write once more soon!
Lovely just what I was searching for.Thanks to the author for taking his time on this one.
Throughout the grand design of things you’ll get an A for effort. Exactly where you actually confused everybody was on your details. As it is said, the devil is in the details… And it could not be much more accurate at this point. Having said that, permit me reveal to you exactly what did do the job. The text is actually very convincing and this is most likely the reason why I am taking an effort to comment. I do not really make it a regular habit of doing that. Secondly, although I can notice the leaps in logic you come up with, I am not really sure of just how you seem to unite your points which make your conclusion. For right now I will, no doubt subscribe to your position but trust in the future you actually link your facts better.
Hi there! This post couldn’t be written any better! Reading through this post reminds me of my previous room mate! He always kept talking about this. I will forward this article to him. Pretty sure he will have a good read. Thank you for sharing!
Having read this I thought it was very informative. I appreciate you taking the time and effort to put this article together. I once again find myself spending way to much time both reading and commenting. But so what, it was still worth it!
Hi, just required you to know I he added your site to my Google bookmarks due to your layout. But seriously, I believe your internet site has 1 in the freshest theme I??ve came across. It extremely helps make reading your blog significantly easier.
A person essentially assist to make severely articles I would state. That is the very first time I frequented your web page and up to now? I amazed with the analysis you made to create this actual put up extraordinary. Great process!
Some truly interesting info , well written and broadly speaking user genial.
Howdy! Someone in my Facebook group shared this website with us so I came to give it a look.
I’m definitely loving the information. I’m bookmarking and will be tweeting this to my
followers! Excellent blog and superb design.
Hello. remarkable job. I did not imagine this. This is a impressive story. Thanks!
Hello my friend! I want to say that this article is awesome, nice written and include approximately all important infos. I would like to see more posts like this.
Some really rattling work on behalf of the owner of this site, utterly outstanding content material.
Thank you, I have just been searching for info about this topic for a while and yours is the best I’ve discovered till now. However, what concerning the conclusion? Are you positive about the source?
Merely wanna remark on few general things, The website design and style is perfect, the written content is very wonderful. “The reason there are two senators for each state is so that one can be the designated driver.” by Jay Leno.
That is a great tip especially to those new to the blogosphere.
Short but very precise info… Many thanks for sharing this one.
A must read post!
hi!,I like your writing so a lot! proportion we keep in touch more approximately your article on AOL? I require a specialist in this house to resolve my problem. Maybe that’s you! Looking forward to see you.
Excellent post. I was checking continuously this blog and I am impressed! Extremely useful info specifically the ultimate section 🙂 I care for such information a lot. I was looking for this particular information for a long time. Thanks and best of luck.
Great blog! Do you have any helpful hints for aspiring writers? I’m hoping to start my own site soon but I’m a little lost on everything. Would you propose starting with a free platform like WordPress or go for a paid option? There are so many options out there that I’m totally overwhelmed .. Any suggestions? Bless you!
Hey there! I’m at work browsing your blog from my new apple iphone! Just wanted to say I love reading through your blog and look forward to all your posts! Keep up the superb work!
I really pleased to find this site on bing, just what I was searching for : D besides saved to my bookmarks.
Some truly superb articles on this internet site, appreciate it for contribution.
I am also writing to let you be aware of what a nice discovery my cousin’s child enjoyed using your site. She came to find many issues, which include how it is like to have a great helping mood to make men and women without hassle understand several multifaceted matters. You really exceeded our own expected results. Thanks for delivering these practical, trusted, edifying and as well as easy thoughts on the topic to Julie.
It’s really a cool and useful piece of information. I am glad that you shared this helpful information with us. Please keep us up to date like this. Thanks for sharing.
Hey, you used to write great, but the last several posts have been kinda boringK I miss your super writings. Past several posts are just a little out of track! come on!
I’m not that much of a internet reader to be honest but your blogs really nice, keep it up! I’ll go ahead and bookmark your site to come back in the future. Cheers
Hello my loved one! I want to say that this article is awesome, great written and come with approximately all vital infos. I would like to peer more posts like this .
We’re a group of volunteers and opening a new scheme in our community. Your web site provided us with valuable info to work on. You have done an impressive job and our entire community will be thankful to you.
Just want to say your article is as surprising. The clarity in your put up is just cool and that i can assume you’re a professional in this subject. Well along with your permission allow me to grab your RSS feed to stay up to date with forthcoming post. Thank you 1,000,000 and please continue the rewarding work.
Yay google is my queen aided me to find this great website ! .
Awsome site! I am loving it!! Will come back again. I am bookmarking your feeds also
Very interesting subject, thank you for putting up.
F*ckin’ amazing things here. I’m very happy to look your article. Thanks a lot and i am looking forward to touch you. Will you please drop me a mail?
It’s really a nice and helpful piece of info. I’m glad that you shared this helpful information with us. Please keep us up to date like this. Thanks for sharing.
Excellent post but I was wanting to know if you could write a litte more on this topic? I’d be very thankful if you could elaborate a little bit further. Kudos!
he blog was how do i say it… relevant, finally something that helped me. Thanks
Hello my family member! I want to say that this article is amazing, great written and come with approximately all significant infos. I’d like to see more posts like this.
Just want to say your article is as astonishing. The clarity for your post is just cool and i could suppose you’re a professional on this subject. Well along with your permission let me to clutch your feed to keep updated with forthcoming post. Thanks one million and please continue the gratifying work.
I have been absent for a while, but now I remember why I used to love this blog. Thank you, I’ll try and check back more often. How frequently you update your website?
I am also commenting to let you understand of the outstanding encounter my friend’s child developed going through your webblog. She discovered lots of issues, most notably what it is like to possess an awesome teaching spirit to make other folks completely know precisely specified very confusing subject matter. You really exceeded her desires. Many thanks for presenting those insightful, healthy, explanatory and unique tips about that topic to Lizeth.
What i do not realize is in reality how you are now not actually a lot more well-appreciated than you may be right now. You are so intelligent. You already know thus considerably on the subject of this subject, produced me in my opinion believe it from so many numerous angles. Its like women and men don’t seem to be involved except it is something to accomplish with Woman gaga! Your individual stuffs excellent. Always care for it up!
The core of your writing whilst appearing reasonable at first, did not really settle very well with me personally after some time. Someplace throughout the paragraphs you were able to make me a believer unfortunately only for a very short while. I still have got a problem with your leaps in logic and you would do nicely to fill in those gaps. In the event you actually can accomplish that, I would undoubtedly end up being fascinated.
Hello my friend! I wish to say that this post is amazing, great written and include approximately all vital infos. I?¦d like to see extra posts like this .
Some genuinely nice and utilitarian information on this web site, besides I think the layout contains wonderful features.
Wow! Thank you! I continually needed to write on my website something like that. Can I take a portion of your post to my blog?
Nice post. I learn something more challenging on different blogs everyday. It will always be stimulating to read content from other writers and practice a little something from their store. I’d prefer to use some with the content on my blog whether you don’t mind. Natually I’ll give you a link on your web blog. Thanks for sharing.
I have not checked in here for some time as I thought it was getting boring, but the last few posts are great quality so I guess I’ll add you back to my daily bloglist. You deserve it my friend 🙂
The very crux of your writing whilst sounding agreeable originally, did not really settle very well with me after some time. Someplace within the paragraphs you actually were able to make me a believer but only for a short while. I still have got a problem with your jumps in assumptions and you would do nicely to fill in those breaks. If you actually can accomplish that, I would definitely be amazed.
Thank you very much for sharing, I learned a lot from your article. Very cool. Thanks.
Just desire to say your article is as astounding. The clarity to your post is just cool and that i can assume you are a professional in this subject. Well with your permission let me to grasp your RSS feed to stay up to date with approaching post. Thanks a million and please carry on the rewarding work.
Keep working ,splendid job!
Howdy! I know this is kinda off topic however I’d figured I’d ask. Would you be interested in trading links or maybe guest authoring a blog article or vice-versa? My site covers a lot of the same topics as yours and I feel we could greatly benefit from each other. If you happen to be interested feel free to send me an e-mail. I look forward to hearing from you! Fantastic blog by the way!
My brother suggested I might like this web site. He was entirely right. This post actually made my day. You can not imagine just how much time I had spent for this info! Thanks!
Thanks for this post, I am a big big fan of this web site would like to continue updated.
Once I initially commented I clicked the -Notify me when new feedback are added- checkbox and now every time a comment is added I get four emails with the identical comment. Is there any method you possibly can remove me from that service? Thanks!
When I initially commented I clicked the -Notify me when new comments are added- checkbox and now every time a comment is added I get 4 emails with the identical comment. Is there any means you may remove me from that service? Thanks!
Excellent, what a website it is! This webpage provides helpful facts to us,
keep it up.
Some genuinely nice and useful information on this internet site, likewise I believe the style and design has got good features.
We are a group of volunteers and starting a new scheme in our community.
Your web site provided us with valuable info to work on. You’ve done an impressive job and our entire community will be
grateful to you.
I consider something really interesting about your site so I saved to favorites.
My partner and I absolutely love your blog and find almost all of your post’s to be exactly I’m looking for. Would you offer guest writers to write content for you personally? I wouldn’t mind publishing a post or elaborating on a lot of the subjects you write about here. Again, awesome web log!
Hello my loved one! I want to say that this article is amazing, great written and come with approximately all important infos. I¦d like to see more posts like this .
It’s actually a nice and useful piece of information. I’m glad that you shared this helpful info with us. Please keep us informed like this. Thanks for sharing.
This blog is definitely rather handy since I’m at the moment creating an internet floral website – although I am only starting out therefore it’s really fairly small, nothing like this site. Can link to a few of the posts here as they are quite. Thanks much. Zoey Olsen
so much excellent information on here, : D.
Way cool, some valid points! I appreciate you making this article available, the rest of the site is also high quality. Have a fun.
Hi there, I found your website by means of Google whilst
searching for a similar subject, your website got here up, it appears
good. I’ve bookmarked it in my google bookmarks.
Hello there, just turned into alert to your blog thru Google,
and located that it is really informative. I am going to be
careful for brussels. I will be grateful in case you proceed this
in future. Many other folks shall be benefited from your writing.
Cheers!
Thanks for finally talking about > X.5: Make the Rich Pay Their Fair
Share of Taxes? – John L. Estes tonic greens.
I went over this web site and I believe you have a lot of fantastic info, saved to my bookmarks (:.
Great goods from you, man. I’ve understand your stuff previous to and you are just extremely wonderful. I really like what you’ve acquired here, really like what you’re saying and the way in which you say it. You make it enjoyable and you still care for to keep it smart. I cant wait to read much more from you. This is actually a tremendous website.
Hello my loved one! I want to say that this post is amazing, great written and include approximately all significant infos. I’d like to see more posts like this .
I’ve been absent for some time, but now I remember why I used to love this blog. Thank you, I?¦ll try and check back more frequently. How frequently you update your web site?
I appreciate the balance and fairness in The writing. Great job!
I am so grateful for your blog.Really looking forward to read more. Will read on…
It’s actually a great and useful piece of information. I’m glad that you shared this helpful info with us. Please keep us up to date like this. Thanks for sharing.
Absolutely composed content, Really enjoyed looking at.
hello!,I really like your writing very so much! proportion we keep in touch more about your article on AOL? I require a specialist in this area to solve my problem. May be that’s you! Looking forward to peer you.
You actually expressed it terrifically!
The blend of informative and entertaining content is perfect. I enjoyed every word.
Engaging with The work is as thrilling as a spontaneous road trip. Where to next?
Thanks for this post, I am a big fan of this website would like to keep updated.