Rich People Get Away With Sh*t
There have been a ton of Diaries here about Trump and his failure to release his tax returns. I think there are many reasons he doesn’t want to do this, the top of the list he isn’t as rich as he says he is. Not even close.
But IMHO there is a close second.
I was raised in a middle-class family. I didn’t want for anything. Life was stellar. But not rich. Then my grandfather passed away and my parents inherited more money then we honestly knew what to do with. It would horrify my parents I write any of this here. We are kind of embarrassed by it all ….
A conversation actually took place where I was asked what I’d do with it, and I said I’d give it away. I don’t need that much money. That I guess was the wrong answer to the question. I didn’t get any of the money.
My parents maybe because of what I told them realized they didn’t know how to manage it and they clearly didn’t want me to. So they hired really smart folks to invest it and do their taxes.
This is what rich folks will never tell you. The world is geared to them in spades. If you have enough money you can afford a team of advisors, well you make money. No matter the economy we are making money. Somehow when the economy was in the shitter and folks losing their homes, we made a ton of money. I am fearful what the folks at USB did with my parent’s money around that time!
Because we have money it is like we have a license to print money.
And this brings me back to Trump and his tax returns.
I don’t see their tax returns. But as the oldest son I get a ton of their financial info, because if they get hit by a bus tomorrow it will come to me to admin the estate. I like to think I am a fairly smart person but I don’t understand much of it.
How you invest. How you do your taxes is complex. But as I said it he geared to the rich. I am very sure Trump’s tax returns would mirror my parents. That as a percent he pays in taxes, well it is far less than I pay.
Those Trump voters that do their own taxes and hate the experience would see they pay more as a percent of their income. That would be a terrible visual. That those that could pay more, have a team of folks and many loopholes to not pay their fair share.
I know at times Trump has bragged about this. That he uses anything and everything to his advantage. Fine, his voters seem to like this. But I bet more than a small percent if they saw he isn’t paying much if anything, would question that.
Next month my parent’s account at USB is getting moved to another person. Their current manager, a college friend of my dad’s, is retiring. Where I said I’d give all the money away took place with him in an airport bar in Louisville many years ago.
I assume he will recall this when I tell him again I plan to give it all away, well most of it. My thoughts have not changed here ……
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