by Alex Lloyd Gross
Sep 22, 2022
People that are super rich pay little to know taxes. These are the same people that have a screwed up mentality towards spending money. They will invest 500 million into a tax shelter, but with raise holy hell about paying an employee $15.00hr. Some of these people have multiple homes while their employees are homeless. They also pay little to no taxes.
A rally was held yesterday on the south side of city hall to raise awareness and call for increased taxation on the wealthy. It was held during the middle of the day and still about 75 people showed up. Some of the speakers included Council members Kendra Brooks and Jamie Gauthier. The event was emceed by pastor Nicholas O’Rouke .
The problem with rich people paying little to no taxes is the fact that while they skirt their responsibilities, the middle class is left to shoulder the burden. Someone that pays $10 million in taxes may seem a lot but it is not, when their net worth is 25 billion dollars.
Mark Stier was present at the rally. he is the Director of the PA Budget and Policy Center. he echoed the sentiments of the other speakers. He urged those who showed up and others who might just be passing by to sign a petition to have those people pay their fair share. The demonstrators and speakers said that there is lack of adequate funding for programs that benefit lower income people, because there is not enough to go around. Programs that are not properly funded will not be able to take as many applicants as is needed.
This is not a federal issue, but a state and local one as well. The taxes that billionaire can pay would also fix infrastructure and get things built. The rally was held on the same day New York Attorney General Letitia James filed suit against former US President Donald J. Trump. The lawsuit seeks $250 million from Trump.
It alleges that he inflated his net worth to get favorable funding for loans. The rates would be cheaper. This means a middle income person would presumably pay a higher rate of interest to a bank making billions. The person having billions would pay less. It is not talking abut loans for real estate worth $5 million or less. A person worth $25 billion is not going to take out a car loan for a Ford. But if they did, they would be paying a lot less in interest than someone making $50K a year.
The rally lasted about an hour and both Gauthier and Brooks gave out literature to help give guidance to city residents who might need help in finding programs to help them. The event was hosted by Tax the Rich PHL, a coalition of groups focused on taxing the rich.