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I understood it as "If 'Really rich people don't have a lot of money' is true, then how come there is so much money being spent on lobbying?" which sounds like
by diggan 1y ago
I understood it as "If 'Really rich people don't have a lot of money' is true, then how come there is so much money being spent on lobbying?" which sounds like a fair point. Where does that money come from if all this wealth is illiquid?
- Arnt 1y agoAIUI, the amounts spent on lobbying are large of you compare them to what ordinary people spend on rent, but piddly if you compare them to what a government collects from even minor taxes.
- croon 1y agoMeaning they have a lot of taxable assets, under current tax code. Otherwise they wouldn't care. There are estimates that every dollar spent on the IRS yields 6 dollars in collected taxes [1][2], without passing any changes. The only reason to lobby against the IRS is to avoid paying the taxes you already owe. [1] https://www.washingtonpost.com/opinions/want-to-shrink-deficits-or-fund-bidens-spending-plans-give-the-irs-more-money/2021/03/25/2959bcd8-8d90-11eb-9423-04079921c915_story.html https://www.washingtonpost.com/opinions/want-to-shrink-defic... [2] https://tracreports.org/tracirs/newfindings/v18/ https://tracreports.org/tracirs/newfindings/v18/