09-20 Politically Incorrect Daily

Random Thought of the Day

Among the provisions of Elizabeth Warren’s Wealth Tax proposal is an annual tax on charities who don’t distribute their accumulated assets. On the surface, forcing charities into paying their benefits immediately to recipients sounds reasonable; however, sometimes the assets are held for good reasons; for example, to pay off projected benefits in the future (such as scholarships), and more importantly, to invest and grow the assets so there is more money to give. The perfect examples are Bill Gates and Warren Buffett, who have given over $100 billions to charity that will be distributed over decades. Warren Buffett has an estimated net worth of $67 billion and would be richest man in the world if not for his charitable giving. However, a little known fact is that he didn’t become a millionaire until his 30s and didn’t accumulate $1 billion until the age of 56. Suppose he had given everything away his million in his 30s. A $1 million donation would be pretty awesome, right? If he had done that, he wouldn’t have been able to invest & grow the money, which will result in his personally giving over $100 billion. The same goes for Bill Gates. This further illustrates why capitalism always beats socialism: citizens are simply better at allocating their own money than bureaucrats in D.C.; it also illustrates the opportunity cost when politicians start screaming about stealing the wealth of millionaires and billionaires.

Political Memes and Funny Pictures

Quote of the Day

Media Bias Also Shows in Stories Ignored/Buried

Remains of 2246 Unborn Babies Found at Doctor’s Home

Tweet of the Day

02-14 Politically Incorrect Daily

February 14, 2019February 13, 2019 Joe Messerli Daily Memes Bill Gates, billionaires, Howard Schultz, liberal hypocrisy, Warren Buffett

Random Thought of the Day

Bill Gates sounds a lot like Howard Schultz and Warren Buffett when he recently said he should pay higher taxes and didn’t deserve his wealth, but I notice none of them are writing additional checks to the government. Gates was very anti-government in the 1990s when Bill Clinton’s Justice Department was hitting Microsoft with antitrust action. He’s finally learned like other billionaires if you spout Socialist talking points and contribute to all the right liberal politicians, you’ll be left alone to practice capitalism and use every tax break in the books to compound your wealth.

Political Memes and Funny Pictures

No Excuses

Tweet of the Day

06-14 Politically Incorrect Daily

June 14, 2018June 15, 2018 Joe Messerli Daily Memes Amazon, Bill Gates, Howard Schultz, Jeff Bezos, liberal hypocrisy, Starbucks, Warren Buffett

Random Thought of the Day

I see that due to pressure from Starbucks and Amazon, Seattle finally repealed the insane “head tax” on employment, which was supposedly to pay for homeless. There are two important lessons to be learned here.

Taxes always lead to behavior changes and unintended consequences from businesses and individuals. In this case it led to a curtailing of new hires and threats from important businesses to halt future investments. Also, more homeless were migrating to Seattle to take advantage of the potential perks.
Rich liberals like Jeff Bezos and Howard Schultz always preach the need for bigger government and more “taxes on the rich”, but the rules of the masses don’t apply to them. As soon as their companies are targeted, they fight back. Most new tax bills are usually hundreds or even thousands of pages so all kinds of loopholes for the super-rich can be buried within them. Check out the personal tax returns of “please tax the rich” liberals like Warren Buffett and Bill Gates. You will see they take advantage of every tax avoidance tactic in the book.