I am a democrat who is very concerned about socialism in America. As I understand it, socialism is a government policy to redistribute wealth from one group to another. I’m not talking about Cuba or Venezuela, they are dictatorships. Their governments have been taken over by criminals who then steal the country’s wealth and give it to their friends and themselves. I am speaking of elected representatives of a democracy who are taking steps to bring about a lawful transfer of wealth.
Take Amazon, for example. It does not pay federal income tax, but uses the taxpayer-subsidized post office to save costs. Or Fox News Corp. They pay little to no taxes, but use the education system to hire trained employees. Haulage companies pay nowhere near enough road taxes to offset the damage they cause to roads. Mitch McConnell ensured the three martini lunch tax deductions were restored in the COVID stimulus bill.
US tax policy is the greatest socialism imaginable. Tax law allows owners (e.g. hotels) to deduct the property’s value (depreciation) from tax returns in order to make more money for the owner. It gets better. If the property is sold, then deferred taxes are not collected. The tax code says the tax can be further deferred if you roll that money to another property.
I agree with others who are concerned about socialism in America. It’s time to stop the transfer of wealth down the business ladder.
Ron Desch, Topeka