So much for the “patriotic millionaires” trotted out by the Democrats calling for higher taxes. The dirty little secret of course is that the truly mega rich have elaborate tax planning to avoid paying one thin dime more than they have to in regard to taxes. An increase in rates would have little impact on them. If they were truly patriotic they would be calling for some variant of a flat tax on all income with the elimination of all tax shelters. The poster child for this call by the very wealthy for higher taxes is Warren Buffet. Gee Warren, maybe you could start by having your company pay the billion the Feds say it owes.
What all this folderol comes down to is a simple variant on the late Senator Russell Long’s description of what each group says when it comes to taxation: “Don’t tax you, don’t tax me, tax that fellow behind the tree!”