degsme
Council Member
Communism is defined as the ECONOMIC system where no private property exists. Each works according to their abilities and to each is given according to their needs. And supposedly the USA's system is anathema to this... Or is it?
There is a curious phenomenon amongst the ultra-wealthy that has them basically living communistic lifestyles - albeit where the defintion of "needs" is rather astonishingly and grossly excessive..
Consider the heirs of the NY Times publishing fortune. Most of then actually OWN very little Private Property. yet they only "work to their abilites" meanwhile all of their "needs" are met by their "society" (trust). Its a curious form of communism based soley in who you marry and who you are born to.
So how does this work?
Well at its core is the The Trust. Essentially in the lives of the extneded family of those descended from Ochs, there is a legal trust created. Ostensibly ALL trusts have to "serve the public interest" in some manner or another - and this one does by giving away part of its annual earnings to charities of all sorts.
All the members of the families are essentially "trustees" of The Trust. As board members they are entitled to whatever compensation The Trustees determine is fair (kinda like the recent "kelly cancer trust" btw). Note that Trustees also are allowed to use Trust Resources if the Trustees deem that reasonable - which of course they do.
See the Trust owns all the houses, cars and properties. So as Trustees, these folks are "given according to their needs" by the trust and by virtue of being inheriting trustes.
Turns out though there ARE tax laws that require you to declare any sort of "in kind" benefits as "income". But that "income" is based on "fair market value" for those services. How is "fair market value" determined? Well typically you use straight market rates for say leasing an automobile and for more esoteric services like "living in a mansion" you bring in an independent auditor to determine that valuation.
Mind you, if that auditor is the same consulting auditor as say the one that audits the corprate books of your company - but is not the same one that audits the trust - ostensibly they are "independent".
So the valuation of living in a mansion and driving a leased Volvo gets set as income. and of course you owe taxes on this. But of course as a trustee, you get PAID a nominal fee for your duties. Turns out that fee is equal to basically your net tax liability, plus your expenses outside what is provided for.
Voila!!! you are "given to according to your needs" and you contribute as a trustee "according to your abilities".
Communism is alive and well - and living amongst the wealthy trust-funders of the USA!!!
There is a curious phenomenon amongst the ultra-wealthy that has them basically living communistic lifestyles - albeit where the defintion of "needs" is rather astonishingly and grossly excessive..
Consider the heirs of the NY Times publishing fortune. Most of then actually OWN very little Private Property. yet they only "work to their abilites" meanwhile all of their "needs" are met by their "society" (trust). Its a curious form of communism based soley in who you marry and who you are born to.
So how does this work?
Well at its core is the The Trust. Essentially in the lives of the extneded family of those descended from Ochs, there is a legal trust created. Ostensibly ALL trusts have to "serve the public interest" in some manner or another - and this one does by giving away part of its annual earnings to charities of all sorts.
All the members of the families are essentially "trustees" of The Trust. As board members they are entitled to whatever compensation The Trustees determine is fair (kinda like the recent "kelly cancer trust" btw). Note that Trustees also are allowed to use Trust Resources if the Trustees deem that reasonable - which of course they do.
See the Trust owns all the houses, cars and properties. So as Trustees, these folks are "given according to their needs" by the trust and by virtue of being inheriting trustes.
Turns out though there ARE tax laws that require you to declare any sort of "in kind" benefits as "income". But that "income" is based on "fair market value" for those services. How is "fair market value" determined? Well typically you use straight market rates for say leasing an automobile and for more esoteric services like "living in a mansion" you bring in an independent auditor to determine that valuation.
Mind you, if that auditor is the same consulting auditor as say the one that audits the corprate books of your company - but is not the same one that audits the trust - ostensibly they are "independent".
So the valuation of living in a mansion and driving a leased Volvo gets set as income. and of course you owe taxes on this. But of course as a trustee, you get PAID a nominal fee for your duties. Turns out that fee is equal to basically your net tax liability, plus your expenses outside what is provided for.
Voila!!! you are "given to according to your needs" and you contribute as a trustee "according to your abilities".
Communism is alive and well - and living amongst the wealthy trust-funders of the USA!!!
