It may soon be the “It- thing” to do…Posted: July 9, 2012
Inasmuch as the wealthiest 5 percent in our nation are paying approximately 93% of all taxes it certainly does not surprise us that Denise Rich has opted to do what she’s done in renouncing her United States citizenship. As one reflects on how skewed this data is we only would ask,” What would you do?”
When one considers that those who are in these wealthiest categories most likely because they’ve had the foresight and initiative to put it all on the line – and in most cases – lost, only to get right back up and start again. Most of us are familiar with Bill Gates, the proprietor of Microsoft who, as some may not know spent a fortune defending himself against every imaginable anti-trust lawsuit ever imagined.
Yet it is not incumbent upon any wayward politician to tax or otherwise take from those who have earned their money and either redistribute it or use it because of some jam that wayward politicians have created and executed themselves. Solyndra comes to mind here.
And as we sit reflecting more caution should be going out to everyone in America:
Most individuals will take to the airwaves or any means possible a la the “Occupy Movement(s)” to express their discontent with what is ostensibly causing inequality and disunity because what they don’t understand is the very basic principal of profit motivation – something our own government hasn’t seen nor been entitled to see. So why take it from the 3 to 5 percent of the whole?
Denise Rich, songwriter, socialite and the former wife of a pardoned billionaire, has given up her U.S. citizenship, and will reportedly thus save millions in U.S. taxes as well. This is very much the same as Facebook co-founder Eduardo Saverin made headlines when gave up his U.S. passport and became a citizen of Singapore, just before the social network’s May initial public offering of stock (IPO).
Interestingly about the Rich saga is reported from Reuters in that Rich wrote songs for Aretha Franklin and Jessica Simpson, but she’s best known as the ex-wife of Marc Rich, who fled the country in 1983 after being indicted for tax evasion, racketeering and trading oil with Iran. Furthermore, a House of Representatives committee concluded that Denise Rich helped bring about her ex-husband’s pardon through donations to the Clinton library and campaign. In a shocking turn-about of events President Clinton pardoned Rich, a big Democratic donor, on his last day in office in 2001.
What we are trying to muster support here is for when we start thinking that the Patient Protection and Affordable Care Act has a very unconstitutional basis of support – ostensibly taxing individuals for not having medical insurance and then assessing that tax against the citizenry is just plain ugly.
We also look to muster support against making it a crime (punishable by taxation) for assisting in the now infamous “American Dream.” If those who allege they are trying to run this country don’t wake up, we won’t have to worry about immigration reform since there will not be anyone in search for what America has in abundance…