Because some of my numbers arrive late, I’m six months behind many of you filing my tax returns…though I pay them every quarter.
A couple weeks ago, I was digging online for paperwork so I could make my October 15 deadline. Right after I found everything, filed and paid, I read a piece in WaPo about how rich people cheat consistently on their taxes and people with regular jobs can’t.
The article estimates that the rich find ways to avoid at least 20 per cent (on average)of what they ought to be paying. If “rich” is defined as incomes over $250,000, then a fair estimate according to university and Congressional researchers, is that the federal government gets cheated out of $300 Billion annually by the richest taxpayers.
300 Billion!! That’s enough to pay for a whole bunch of President Biden’s unprecedented 2022 “American Families Plan,” including universal preschool, aid to schools in poor neighborhoods, feeding kids in schools, free community college for students of color, and subsidies to students at Historically Black colleges and universities (HBCU). All those programs add up to less than $300 Billion. At least, that’s how I read the proposed Biden budget that’s still being hacked at
by Mitch and his gang.
Point is: if super-rich people paid what they’re supposed to pay, it could have huge social benefits to minorities and ultimately to everyone in the country.
How they get away with it: if their income is from partnerships (lots of real estate investors), proprietorships (owning their own businesses), and from rental income, they can’t all possibly be audited. There just aren’t enough IRS investigators to catch up with the rich folks. There are far fewer IRS agents and a whole lot more tax lawyers than there were even ten years ago
It’s not just that there are fewer agents to catch them. The richest 1% use sophisticated accounting techniques that are difficult to trace. It costs tens of billions even for proven experts to figure out and unbundle the schemes, including offshore tax shelters, pass-through businesses and complex conservation easements.
Who benefits—only the wealthiest.
Who pays for their cheating? Of course, all the rest of us.
“Reaching Out to You”
I was in the midst of writing a rant about current expressions and language. Stuff like “Have a good one,” “Jumping In,” and many more when I realized that maybe I’m the reactionary, that use of language is evolutionary, and who am I to criticize? Well, I am what I am. IMHO, at this point of my life, I’m too far gone to accept what I consider stupid meaningless phrases. Sue me.
Sexual Abuse: All Better Now?
I’m not sure why this popped out of my computer, from the PY-O-MY Letter from three years ago, November 1, 2018. Despite some surface changes in appearances, not much has really changed, nor is it fast enough. As scandal after scandal gets exposed now, it seems clearer and clearer that guys have been doing this forever, especially guys who have power in media, churches, sports and government. My guess is it will take many more years (generations?) before we get past this fundamental blot on our society.
From PY-O-MY Letter, November 1, 2018:
This is Not News
Les Moonves, the long-time CEO of CBS became probably the most powerful man in media to depart after allegations of sexual assault or harassment. As The New York Times’s Edmund Lee notes, “Men like Moonves, Harvey Weinstein, Roger Ailes, Bill O’Reilly, Matt Lauer, and Charlie Rose spent years determining what TV shows, movies and news programs millions of Americans watched on a daily basis.” Lee adds: “The wave of scandals is a stark reminder of how male-dominated the entertainment and news industries remain, especially in their upper ranks.” OK, we now have increased awareness. That’s one small step. But, it seems like not much has really changed in the control of the Biz…yet
Scott Jacobs, (aka Stump Connolly) 1950-2021
One of my most long-standing Chicago video buddies died unexpectedly and instantaneously last week. He was absolutely a unique character with enormous skills in many areas. Here’s how I told of the loss of Scott in a video blog for Media Burn: https://mediaburn.org/blog/in-memory-of-scott-jacobs/
He will be missed big time. Here’s the information from his wife Lucy about the plans for his celebration of life on Monday November 8:
Visitation at Saint Hedwig‘s Church in Bucktown from 9 until 10 AM. It will be followed by a funeral service there from 10 to 10:45am.
There will be a graveside service at Graceland Cemetery for immediate family following the funeral service. A reception to celebrate Scott’s life will be held at The Joinery in Logan Square from 12:30 to 2:30 PM. Friends and family are welcome to attend and to share a memory in his honor.
St. Hedwig’s Church
2226 N Hoyne
Chicago, IL 60647
The Joinery
2533 W Homer
Chicago, IL 60647
Quick Set of Facts
No way in the world could I have guessed the list of the top 10 cities by population.
Any surprises to you?
- Tokyo (Population: 37,435,191)
- Delhi (Population: 29,399,141)
- Shanghai (Population: 26,317,104)
- Sao Paulo (Population: 21,846,507)
- Mexico City (Population: 21,671,908)
- Cairo (Population: 20,484,965)
- Dhaka (Population: 20,283,552)
- Mumbai (Population: 20,185,064)
- Beijing (Population: 20,035,455)
- Osaka (Population: 19,222,665)
By comparison, largest in US:
New York has 8.8 million
Los Angeles 3.9
Chicago 2.7.
Does this tell us anything about the limited way we perceive of the world?
Family
This month, rather than pictures of all the grandchildren, I. wanted you to see a shot of three generations, Maggie Kliner, 7, her mom, Nurse Practitioner Anna and the last standing generation, me.
Safe and healthy November. Seeya December 1 as I complete the eighth year of this writing exercise. I couldn’t do it without the unending support and commentary from you, pro and con.
As ever,
–Tom
PY-O-MY 