Hell no, and neither does the GOP of the last 40 years,
But recently Dems were whining that the Republicans wanted to shrink government and push Grandma off the cliff. Were the Dems lying, as usual?
all the GOP cares about is cutting taxes on the rich
So fascists are all about cutting taxes?
dude about 89 percent of the mega rich are hard core democrats
More like 50% and they want to raise taxes on themselves unlike the greedy idiot Republican mega rich brainwashers.
Elites often talk about wanting to raise taxes on themselves, and yet, they never actually pay more when given the chance. Most of the reason for why the elite pay less in taxes is due to deductions. If you're a billionaire with a lot of investments, you have access to various deductions most people don't have. For the deductions that don't have a cap, you can also deduct huge amounts.
So, if said billionaires really desired to pay more, all they would have to do is utilize fewer deductions. They don't, and so their rhetoric is obviously false.
What more often happens is that the nominal top tax rate is raised, but no changes are made to the AMT. The AMT is usually the only rate that billionaires have to contend with on the federal level, since it can't be deducted below. However, they can still get around this through manipulation of funds into companies and overseas accounts.
When the top nominal tax rate is raised, it typically only affects the bottom end of the top bracket -- typically small business owners. This is why small business owners are much more likely to be conservative on fiscal policy. They tend to pay the highest percentage of their income in taxes under any system of progressive tax rates. It's why they often push for a flat tax rate or against income taxes overall.
The billionaires don't really care, because they have so many ways to avoid income tax.
My favorite example of this, was Warren Buffet with this pledge to give away his stock.
While Buffet claims that the super wealthy should pay more in taxes, Buffet himself has carefully crafted his wealth give away plan, to avoid paying almost any taxes.
First Buffet makes the choice to donate the stock itself, rather the selling his assets, and donating the resulting fortune to charity.
Because if Buffet sold the stock, he would have to pay taxes on that income. Instead he donates the stock itself to the charities, and of course the charity itself, avoids paying taxes by holding the stock in trust.
Additionally, not only does Buffet avoid paying tax on the donated shares of Berkshire Hathaway, but Buffet carefully limits the amount of stock he donates to charity, to be within the maximum cap on charitable deductions, so that he can minimize the amount of taxes he pays on the income that he keeps.
He never donates more shares of Berkshire Hathaway, than he can claim a tax deduction on.
And of course, what nearly everyone seems to not know.......... The entire pledge to give away his wealth, is actually a sham.
Warren Buffet has a massive personal fortune, that exists outside his public life, that is estimated at tens of billions. We know about the wealth he has from Berkshire Hathaway, because it's a public company. But his personal private fortune, is rather unknown. People have only guessed at how much in assets he owns that are not public.
Of course he has made no effort that we know of to donate any of that fortune.
So the whole thing is a self righteous left-wing PR scam, and it works because people have no idea how much he has in hidden wealth.
But regardless, the point you were making is dead on right. The rich and wealthy, while talking big about how the wealthy should pay more tax, do everything in their power to avoid taxes themselves.
