Daily Archives: April 8, 2012


Jon Stewart – The Poor’s Free Ride Is Over

Here is Jon Stewart on the class warfare on the poor in World of Class Warfare – The Poor’s Free Ride Is Over.

If you have the same problem I do that the above video does not play for you, try this bug fix link for Comedy Central.

The trouble with this video is that you still have to have your own beating heart to realize why the “Poor’s Free Ride” is a laughable concept. Maybe Jon Stewart’s audience gets it without an explicit explanation from Jon, but I am sure the Faux Noise audience doesn’t even see what is wrong.

Jon also jumps to the same conclusion that Faux Noise makes. He assumes that the 50% who pay no income taxes are poor. I know a retired couple whose annual income plus annual increase in their net worth is around $100,000. They file a scrupulously honest tax return every year and yet have paid no income tax for a few years. How is that? Much of their increase in net worth is in their tax deferred investments none of which is considered to be income by the IRS. Whatever realized losses in their portfolio that occurred during the stock market crash were in their taxable portfolio. Hence years of capital loss carry over to compensate for any taxable income they have. Do you suppose this couple without the benefit of expensive tax lawyers and accountants are the only not poor couple that can figure out how to pay no taxes?

Thanks to BrianS for bringing this video to my attention.