7 ms·

It adds insult to injury that a billionaire real estate mogul made EXACTLY this argument when selling his tax policy and business conduct (I’m just being a good

It adds insult to injury that a billionaire real estate mogul made EXACTLY this argument when selling his tax policy and business conduct (I’m just being a good businessman, and I’ll fix the rigged system by getting rid of loopholes!), then turned around and got rid of special deductions for normal folks and created a massive special interest handout for real estate moguls.

lukas099 4y ago
I hope you're not implying that my argument is wrong just because Donald Trump once said the same thing disingenuously.
moffkalast 4y ago
To the surprise of absolutely nobody.
- andrepd 4y ago
  Apparently to the surprise of many! Some people really are terminally gullible.
  - moffkalast 4y ago
    How can you tell if a rich/powerful person is lying? Rule of thumb: Their mouth is moving.
    - AnIdiotOnTheNet 4y ago
      Rule of thumb: people don't get to be rich and powerful by being decent and honest.
      - HWR_14 4y ago
        This particular example inherited his fathers business, which was valuable enough that a half-share was sufficient to move him onto the Forbes 400 list. Although his father also trained him not to be decent or honest.
refurb 4y ago
got rid of special deductions for normal folks I assume you're talking about the SALT deduction? The one that mostly benefits the highest income earners? Interesting how when people personally benefit from a tax break it's "entirely justified", but when someone else does it's a "massive special interest handout".
- throwawaygh 4y ago
  A two earner household with a cop and a nurse benefited from SALT. The average beneficiary of opportunity zones is generationally wealthy. A pair of tech workers pulling down 7 figures a year are stupidly wealthy and still would probably not have enough capital to be the primary beneficiary of an opportunity fund. I’m not going to defend the salt deduction because I’m not a fan of it for the reasons you mention, but comparing SALT to opportunity zones is genuinely delusional. Pitting the lower middle class against the upper middle class over a modestly regressive tax break while folks who haven’t worked in three generations pay a 0% tax rate on the fruits of others’ labor.
  - refurb 4y ago
    Generationally wealthy seems like a statement that needs some data there. These investments can be as simple as opening a store. Youre putting up a straw-bogeyman that doesn’t actually exist.
    - throwawaygh 4y ago
      Citation sorely needed. What’s the name of that opportunity fund?

lukas099 4y ago

I hope you're not implying that my argument is wrong just because Donald Trump once said the same thing disingenuously.

moffkalast 4y ago

To the surprise of absolutely nobody.

andrepd 4y ago
Apparently to the surprise of many! Some people really are terminally gullible.
- moffkalast 4y ago
  How can you tell if a rich/powerful person is lying? Rule of thumb: Their mouth is moving.
  - AnIdiotOnTheNet 4y ago
    Rule of thumb: people don't get to be rich and powerful by being decent and honest.
    - HWR_14 4y ago
      This particular example inherited his fathers business, which was valuable enough that a half-share was sufficient to move him onto the Forbes 400 list. Although his father also trained him not to be decent or honest.

refurb 4y ago

got rid of special deductions for normal folks I assume you're talking about the SALT deduction? The one that mostly benefits the highest income earners? Interesting how when people personally benefit from a tax break it's "entirely justified", but when someone else does it's a "massive special interest handout".

throwawaygh 4y ago
A two earner household with a cop and a nurse benefited from SALT. The average beneficiary of opportunity zones is generationally wealthy. A pair of tech workers pulling down 7 figures a year are stupidly wealthy and still would probably not have enough capital to be the primary beneficiary of an opportunity fund. I’m not going to defend the salt deduction because I’m not a fan of it for the reasons you mention, but comparing SALT to opportunity zones is genuinely delusional. Pitting the lower middle class against the upper middle class over a modestly regressive tax break while folks who haven’t worked in three generations pay a 0% tax rate on the fruits of others’ labor.
- refurb 4y ago
  Generationally wealthy seems like a statement that needs some data there. These investments can be as simple as opening a store. Youre putting up a straw-bogeyman that doesn’t actually exist.
  - throwawaygh 4y ago
    Citation sorely needed. What’s the name of that opportunity fund?