Congress lets business owners, investors and landlords play by one set of rules, which are filed with opportunities to hide income, fabricate deducti… - David Cay Johnston
" "Congress lets business owners, investors and landlords play by one set of rules, which are filed with opportunities to hide income, fabricate deductions and reduce taxes. Congress requires wage earners to operate under another, much harsher set of rules in which every dollar of income... is reported to the government, and taxes are withheld... to make sure [they] pay in full.
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About David Cay Johnston
(born December 24, 1948) is an American investigative journalist and author specializing in economics and tax issues. He won the 2001 , and from 2009 to 2016 he was a Distinguished Visiting Lecturer at Syracuse University, Martin J. Whitman School of Management and College of Law, teaching tax, property, and regulatory law of the ancient world. From 2011 to 2012 he was a columnist for , writing, and producing video commentaries on worldwide issues of tax, accounting, economics, public finance and business. In recent years he has also written for and , and is the board president of , Inc. (IRE).
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Birth Name:
David Cay Boyle Johnston
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DC Report
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From 1945 to 1980 we had a bipartisan consensus in this country about nurturing and developing the middle class. ...There were plenty of fights back and forth, but both sides of the aisle agreed that government should be building up the majority of the people to create a better, wealthier society. We had the , probably the smartest single thing government's done in modern times. ...We had the built, although it was built at the urging of the Pentagon so that we could move material around if we had to have productivity for a war. We invested in all sorts of things, basic science education, we had 30 year mortgages developed...
[A] lot of people have looked around after 28 years, from when they were promised all these things by Ronald Reagan... [and] realized that for the bottom 90% of Americans incomes are unchanged... even though the country is more than twice as wealthy in real terms, and productivity per capita is up 70%; for every dollar the economy put out back then, per person, in real terms, it puts our $1.70 today. And they've said, "Where's the beef?" ...[T]hat disconnect is ...opening up an opportunity to get people to see what the government has done that's contrary to their interests, because Adam Smith said "Any policy that benefits the majority of the people must be a good thing for the society."
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So we didn't get less government... that we were promised. Next we were told we should have deregulation. There's no such thing as deregulation. Everything has rules. ...What we got were new regulations... written by and the railroads and the banks, and they eliminated [or reduced] consumer protections. They took away enforcement of the existing laws. They benefited this political donor class, who were pursuing their own self-interest.
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