One of the ironies of the NY Times release of Trump’s tax returns is the fact that he paid just $750 bucks in federal income taxes two years.
In conversations nobody I’ve talked to is surprised that he went ten years without paying anything.
It was the $750 he did pay that pissed them off.
It’s like nobody is surprised that the 1% pay nothing at all.
It is difficult for us to wrap our heads around Jeff Bezos’ billions anyway.
I mean, Bezos’ net worth is around $180 billion. What is that?
We get that. And we know that it is a lot less than what he have to pay.
It’s two nights in the cheapest room at the Trump Hotel in D.C.
A billionaire paying no taxes, we get. Trump getting away with $750? It’s insulting.
Then I was talking to a neighbor friend about the Illinois ballot issue of moving from a state flat tax to a graduated progressive income tax.
Currently a billionaire and a laborer pay the same tax rate in Illinois.
“It won’t pass,” he said.
It needs 60% of those voting to enact a fair tax system in which nothing changes for 97% of the taxpayers in the state and raises an extra 2.5 billion from the couple of thousand millionaires we have.
When I asked him why he thought it wouldn’t pass even though 97% of the voters would see no increase in their tax rates, he said because too many people believe they can become millionaires.
“No chance, unless they win the lottery,” I said.
“Of course not. But that’s the American myth. The American dream. Anybody can become a millionaire.”
“Nah. Most people don’t believe that,” I said.
“We’ll see,” said my neighbor.