{"id":913,"date":"2011-07-20T13:41:18","date_gmt":"2011-07-20T20:41:18","guid":{"rendered":"https:\/\/scotshonor.com\/?p=913"},"modified":"2011-07-20T13:41:18","modified_gmt":"2011-07-20T20:41:18","slug":"taxing-the-brain-2","status":"publish","type":"post","link":"https:\/\/scotshonor.com\/?p=913","title":{"rendered":"TAXING THE BRAIN"},"content":{"rendered":"

Democrats continue to demand an increase in taxes on the rich as critical to reducing the deficit.\u00a0 This sound great, it ignores\u00a0economic principles.\u00a0 All\u00a0tax payers are not created equal.\u00a0 The average Joe\u00a0reports\u00a0his income, pays his tax and moves on.\u00a0\u00a0He has no real alternative.\u00a0 He\u00a0must use nearly all of his income for living purposes.\u00a0 He has little real disposable income.\u00a0 But people with higher incomes are very different.\u00a0 A much higher percentage of their income is disposable.\u00a0 Since they don’t\u00a0 need most of their real\u00a0income for day to day living expenses,\u00a0it is much easier for them to hide it.<\/p>\n

The classic example is our hero, John Kerry.\u00a0 How many of you remember his new $7 million sail boat.\u00a0 Many of us are familiar with how he tried to dodge Massachusetts sales tax by berthing the boat in Rhode Island:<\/p>\n

http:\/\/www.masslive.com\/news\/index.ssf\/2010\/07\/sen_john_kerry_docks_new_boat.html<\/a><\/p>\n

But while the main stream media picked up on the sales tax hypocrisy, they missed the main point.\u00a0 Although the article refers to this as John Kerry’s yacht, it doesn’t actually belong to John Kerry.\u00a0 It also doesn’t belong to his wife, Theresa Heinz.\u00a0 The boat is\u00a0owned by Great Point, LLC.\u00a0\u00a0The following\u00a0article shows how the ownership of this boat was structured to avoid paying tax:<\/p>\n

\u00a0http:\/\/www.futureofcapitalism.com\/2010\/07\/explaining-kerrys-yacht-tax-dodge<\/a><\/p>\n

This is why people like John Kerry, who are filthy rich, are so willing to accept raising taxes on the rich.\u00a0 They know they won’t pay them.\u00a0 It is also why raising tax rates on the rich does not result in higher tax revenues.\u00a0 Revenues will go up for a short period of time, but only long enough for the really rich to find a way to avoid them.\u00a0 The more money you have, the easier it is to avoid taxes.\u00a0 Closing tax loopholes is a joke, because rich people can always afford to hire an expert to find a replacement.\u00a0\u00a0<\/p>\n

When George W. Bush lowered tax\u00a0rates on the wealthiest Americans, they actually ended up paying a higher percentage of total tax.\u00a0 It’s just plain economic sense.\u00a0\u00a0Just this week an MSNBC Reporter sneered at a Republican congressman and asked him if he had a degree in economics.\u00a0 It turns out, to her horror, that he did.\u00a0\u00a0Perhaps someone should ask Obama this question.\u00a0 Personally I don’t think you have to have a degree in economics to understand common sense principles.\u00a0 But, to provide full disclosure, I do have a degree in\u00a0Economics and yes I did graduate with honors.<\/p>\n

TDM\u00a0<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

http:\/\/www.examiner.com\/starbucks-in-national\/did-starbucks-raise-or-lower-prices-bothJoh<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Democrats continue to demand an increase in taxes on the rich as critical to reducing the deficit.\u00a0 This sound great, it ignores\u00a0economic principles.\u00a0 All\u00a0tax payers are not created equal.\u00a0 The average Joe\u00a0reports\u00a0his income, pays his tax and moves on.\u00a0\u00a0He has … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-913","post","type-post","status-publish","format-standard","hentry","category-latest-headlines"],"yoast_head":"\nTAXING THE BRAIN - SCOTS HONOR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scotshonor.com\/?p=913\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TAXING THE BRAIN - 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