There are people in the "Tea Party" that want no tax and no government.

__________________
1991 560 SEC AMG, 199k <---- 300 hp 10:1 ECE euro HV ...

1995 E 420, 170k "The Red Plum" (sold)

2015 BMW 535i xdrive awd Stage 1 DINAN, 6k, <----364 hp

1967 Mercury Cougar, 49k

2013 Jaguar XF, 20k <----340 hp Supercharged, All Wheel Drive (sold)

I've never heard a tea partier propose that. I HAVE, however, heard them suggest MINIMAL taxes and MINIMAL government.

There are those of that thinking in all nations- they are called Anarchists. Frankly I don't believe any of the main TP members believe in complete abolition of the Fed, State and Local govt.

I believe you're largely thinking of the bad old days of the 1950s-1970s when tax shelters were a big business. A tax shelter was a venture that permitted moderately well to do professionals - doctors, attorneys, etc. - to buy into an intentionally loss making venture. The losses were distributed onto their individual tax returns, offsetting earnings and keeping them out of the punishing tax brackets of those times. Tax shelters went away with the Reagan tax reforms in the early 1980s.

If you are thinking of wealthy folks keeping money in offshore accounts in Switzerland, Cayman Islands, Jersey, etc. and not reporting the income, that is simply illegal. The US has been successfully pressing to gain disclosure of customers from banks in such places.

Some wealthy folks derive significant income from municipal bonds, which can be tax free. I have read of proposals to change the rules, but wonder to what degree this would simply end up punishing the municipalities, as it would erode their access to capital.

Others, such as the last Republican presidential candidate and Warren Buffet, derive most income from dividends. Dividends are taxed at a lower rate because they are (in theory) the already taxed profits of corporate entities distributed to owners of the entity. I say in theory because the accounting machinations of big companies are beyond my comprehension. Do note that keeping money offshore (think Apple) is not applicable here; it would have to be repatriated, triggering US corporate taxes, in order to be distributed as dividends.

People who have founded a business and become very wealthy through an equity stake (Larry Ellison, Steve Jobs) can borrow against that equity to finance their lifestyle, avoiding the generation of capital gains by selling stock to raise cash. I have no idea how such things get unwound down the pike.

I do think carried interest is a scam - to me it looks and smells like salary and should be taxed as such.

I am sure there is more, and I am sure half of what I've written is wrong. But this is my understanding based on reading the WSJ, Economist, NYT, etc. for too long...

Really? I didn't know that. Whaddabuncha morons.

Is it your belief that perspective is widespread?

Or is it like saying because Obama was once a protege of Bill Ayers that Obama and all of his administration must be communists? You know, pronouncing everybody on a cohort as equal when some small few are imbalanced?

I generously summarized the above for you.

I have to disagree. Tea Partiers don't want less government or taxes. What they want is a government that serves them and they want taxes they benefit from. Make them wait half an hour longer at the DMV and those same people go berserk. No generation in the American history has benefitted more from big government as the generation you will find overly presented at tea party rallies.

__________________
1979 Black on Black, 300CD (sold), 1990 Black 300SE, Silver 1989 Volvo 780, 1988 300CE (vanished by the hands of a girlfriend), 1992 300CE (Rescue).

It is a common misconception that tax money leaves the economy
thus hurting the economy.

Not true, the gov spends and someone benefits from that.

You can simulate the economy by cutting taxes while increasing spending
but there is a limit to how long we can play that game. Eventually no one
will want to own our debt and T bill rates will skyrocket, Inflation......

Or we can worry about the debt raise taxes and cut spending and flush the
economy.

Better to be like Goldilocks. 'Just right"

Unlike everybody else, right?

"Not true", that's your argument?

Tax money is still part of the economy and when gov spends it it stimulates the economy. Nothing to argue about.............

Does government spending come only from taxes?

Is the only effect of government spending to stimulate the economy?

If it were that simple we should ask the government to give each of us a couple grand extra. That way we could all spend ourselves into prosperity.

1. No, deficit spending would be at least one other.

2. No, it is the effect most overlooked and/or denied.

3. Giving us $2k the same as cutting our taxes $2K?
Neither would create prosperity.

My remark was:

There are people in the "Tea Party" that want no tax and no government.

Perhaps you could clarify whether that meant "all".

I never even implied that the "perspective is widespread".

But yes some of them DO believe it as I have stated.

In fact, the County of Nevada, where I reside, is said to be the actual birthplace of the Tea Party movement.

There is no shortage of the caterwauling about tax and government in this area.

__________________
1991 560 SEC AMG, 199k <---- 300 hp 10:1 ECE euro HV ...

1995 E 420, 170k "The Red Plum" (sold)

2015 BMW 535i xdrive awd Stage 1 DINAN, 6k, <----364 hp

1967 Mercury Cougar, 49k

2013 Jaguar XF, 20k <----340 hp Supercharged, All Wheel Drive (sold)

Economic Stimulus Act of 2008 - Wikipedia, the free encyclopedia

__________________
On some nights I still believe that a car with the fuel gauge on empty can run about fifty more miles if you have the right music very loud on the radio. - HST

1983 300SD - 305000
1984 Toyota Landcruiser - 190000
1994 GMC Jimmy - 203000

https://media.giphy.com/media/X3nnss8PAj5aU/giphy.gif