Wednesday, August 02, 2006

Yesterday's NY Times had an article about the rich avoiding taxes, an exploding trend to the point of epidemic ("So many superrich Americans evade taxes using offshore accounts that law enforcement cannot control the growing misconduct").

The right will say it's the oppressive, onerous tax code forcing the hand of the super-rich, serving as an unfortunate catalyst in the shielding of income. One problem: there's never been a six year period of tax cut nirvana like we've seen under King George, and yet still the rampant income sheltering, in fact accelerating to the point where it's "out of control."

What gives? Hmm, could it be naked greed combined with massive gutting/easing of tax enforcement on the wealthy?

Recall that billionaire Ross Perot once stated his effective tax rate was much lower than the average American, mainly due to exploiting tax loopholes and shelters and obviously not even referring to the illegal activity mentioned in this article.

The income gap continues to expand and you have to wonder at what point will ugly class warfare break out in earnest in this country?

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