I’ve written that the Supreme Court is corrupt, and one piece of evidence is that the court has engineered, by judicial fiat, a series of laws that benefit the wealthiest class of Americans.
The court first decided that all the state laws aimed at limiting the use of ‘money power’ in campaigns are unconstitutional.
The court then created new laws that enable tax cheating. They ruled that one could avoid taxes by using a non profit trust. The wealthy could anonymously give any amount of money to a political candidate of their choice by using this new trust.
Also, using the same trust concept, the Supreme Court (cult?) ruled that taxpayer money could be used to pay private education tuition. All one had to do was to use a specific non-profit trust to launder taxpayer funds and then use those funds to pay tuition at elite private schools, ‘pop up’ charter schools, religious schools and home schooling. Money alchemy, anyone?
These new trust concepts were aimed at unleashing the ‘money power’ of the super rich in order to benefit the super rich. The politicians elected will ensure that the wealth of the super rich will be taxed less than the incomes of labor and small businesses.
The correct political word for this super rich class is “Oligarchs.” Oligarchs and oligarchies are hardly new. Both the Roman and the Greek democracies crumbled under the weight of an oligarch class.
There are, it is estimated, more than 750 billionaires and 22 million millionaires in America. President Biden claims tax cheating has clipped something on the order of one trillion dollars from government revenues.
From a news release by U.S. Senator Sheldon Whitehouse (D-R.I.), chairman of the United States Senate Budget Committee: “But there are superrich individuals and giant corporations who choose not to pay their fair share of taxes. Instead, they choose to cheat everyone. They hide income in offshore tax havens and construct sham transactions and entities to cheat everyone else.
Most Americans don’t have offshore bank accounts; the superrich stash nearly $2 trillion in offshore tax havens. The top 0.01%, representing only about 13,000 households, hold more than a third of that, often held through tangled webs of shell companies.
The IRS estimates tax cheats cost the US at least $688 billion in 2021 alone. Trump’s IRS Commissioner Charles Rettig told the Senate Finance Committee that the annual tax gap could be $1 trillion. One of our witnesses, Stephen Curtis, estimates that we could raise $600 billion from just a handful of scofflaw corporations for many years’ worth of unpaid taxes. We’ve seen in my lifetime a collapse in the share of United States revenues that corporations contribute — down to six percent. A lot of that collapse is through tax tricks like offshoring.”
Special trusts, offshore accounts, same circus, same monkey.
https://www.budget.senate.gov/chairman/newsroom/press/whitehouse-offshore-tax-evasion-by-big-corporations-the-wealthy-cheats-american-people