by Jack
I’m all for closing tax loopholes that allow some wealthy people or big corporations to escape paying their fair share. That’s absolutely wrong and nobody I know would oppose reforming those loopholes. However, that being said, for anyone, including our president, to toss out an overly-broad statement and say that all the rich in the country don’t pay their fair share….well, how to say it? Its, its… just plain wrong! WRONG, WRONG, WRONG! Taken from the Congressional records, supported by the IRS, the current top 1% pays more taxes than the bottom 90% combined.
Let’s go over this again and here’s the exact quote taken from Congressional records, “The top 1 percent of taxpayers now pays a greater share of the income tax burden than the bottom 90 percent combined.” If you believe the rich are in general terms.,.. not paying their fair share – how do you explain this quote? Do you deny it’s true? Where’s your proof? Because even the IRS says it’s true. What greater authority on taxes is there? None that I know.
So, by all means lets close those loop holes on the rich – that’s one of the reasons we elected people to Congress. And let’s also make the IRS code so simple any normal person could understand how to fill out a tax form and pay their fair share of taxes. But, we’ve got to stop piling on the very people and businesses that create jobs, produce those important things we need, and help create real wealth among our citizens! If we keep pounding and pounding on them we’re going to lose everything. But, first we’ll lose them to other nations with a more friendly business climate (even China is looking better than many places in the USA).
California is the classic example of how not to run a state government. We lead in all kinds of stupidity, over taxing, over regulating, under educating, and transferring the wealth via all the lavish safety nets. And look what it’s got us? We’re broke! California is dead broke, busted. You’ve got white collar flight to other states, blue collar flight to other states, businesses closing right and left and big factories closing. Tens of thousands of good paying jobs are gone now and they won’t be coming back! Thank you democrats! Cities and counties are forced into downsizing their budgets, laying off workers, cutting salaries, reducing services and lets not even talk about home foreclosures and falling property values here! Thanks to one party in particular!
This state has been run (ruined) by democrats for almost 20 years and this is the end result of their policies – what more proof does anyone need to know about how not to run a government and who not to elect?
This taxing the rich gimmick is just that…a political gimmick for the weak minded voter. It’s just another stupid dodge to take the pressure off big government’s failure to manage their income appropriately.
No more foolish tax hikes, make it tax cuts and spending cuts!!!
I’m fed up! I’m screaming it….We’ve got to start making our own government budget like honest adults in the real world.
Government can’t keep borrowing .52 cents on every dollar spent and expect to avoid bankruptcy at some point in our near future.
California is the bad example the nation needs to examine – we’re broke for a reason and it was not because of a lack of tax revenue – it was mega-overspending just like the feds are doing. And that’s the real message we need to focus on! Don’t you be duped by liberal rhetoric that blames it all on the rich. That BS proves out to be way too simplistic and even stupid when the facts are all on the table. Don’t fall for it anymore; take the time to examine the facts and then start voting smart. God knows we’ve presented the facts here hundreds of times, complete with sources and proof.
Let’s get real people, the problem isn’t with a few rich people cheating the IRS with loop holes – it’s our own government! THERE’S THE FREAKING PROBLEM!
Outstanding post Jack.
We are on exactly the same page here.
If all loopholes in the tax code were to be closed tomorrow, it wouldn’t make any difference.
If all the wealth of the top 1% were confiscated in 2011, it wouldn’t make any difference.
Liberals don’t get it because they don’t want to get it. It is at odds with their class warfare narrative. It is at odds with their non-sustainable fantasy utopianism. It flies in the face of their Big Government, Nanny State Socialism Gooooooood, Capitalism Baaaaaaad belief system.
It falls completely outside of their comfort zone.
The majority of Americans approve of raising taxes on wealthy Americans. I’m not a wealthy American but since no poll asked me, Ill post it here. Anyone who believes in arbitrarily raising taxes on their neighbor for no greater reason than they have more stuff than you is no better than a thief. We don’t have a right to our neighbors property simply because they happen to be better at acquiring things than we are.
http://www.nationalreview.com/articles/271843/are-rich-undertaxed-michael-g-franc
Geez Jack…lol, why not tell our readers how you really feel? GREAT JOB!!!
I want to play too….
“Let’s get real people that problem isn’t with a few rich people cheating the IRS with loop holes – it’s our own government!”
It’s our own government:
That creates the laws containing loopholes and set-asides, subsidies and restrictions!
That pits citizen against citizen!
That creates dependency and need rather than productivity!
That invites collaboration based not on what is best for the country as a whole but on what offers advantages to differing and various groups.
That builds political alliances based on extortion or collusion.
That sucks the life and vibrancy both from individuals and from business.
THIS IS AMERICA…A PLACE WHERE ANYTHING IS POSSIBLE…WHEN GOVERNMENT REMAINS SMALL AND UNOBTRUSIVE …AND WHEN GOVERNMENT IS MINDFUL OF ITS FIDUCIARY RESPONSIBILITY TO MANAGE THE PEOPLES MONEY WELL!
There was a fellow on the radio this week who spent about 2 hours explaining how loopholes were merely “the law,” and anyone who said we should close loopholes was a whiner who was caving in to the hooey about class warfare started by the Democrats. He claimed he had the largest audience in radio. HE certainly opposes closing the loopholes and I will bet many of his fans do to. Ask around.
To blame California’s woes on one party alone is puerile and incorrect.
Your readers deserve better.
Laughing at us: You are right – I’m sorry, you got me. You said, “To blame California’s woes on one party alone is puerile and incorrect.” Obviously that’s incorrect. I should have included the Green Party, American Independent Party and the Peace and Freedom Party. They could have voted for conservative candidates and it would have made a difference. Others that blocked progress, voted stupidly or sided with the wrong party for the wrong reasons would be Code Pink, the League of Women voters, N.O.W., LaRazza, Mecha, Democratic Socialists of America, ACLU, NEA, CTA, anarchists, race-baiters and class warfare types, all felons, welfare cheats, thugs, street gangs, labor unions-see street gangs and thugs, crooked politicians from any party, deliberate political ignorance, deliberate irresponsible or reckless voters, liars in in government, illegals who vote illegally, big money payoffs from special interest groups, RINO’s, self-serving, greedy politicians from any party…oh, it’s a long list and I could go on but, this is a fair start to correcting my error and naming off those main people, groups and reasons why we’re in such a mess. Thanks for the reminder to be more specific and point the finger of blame squarely where it belongs.
Thanks Nick…I totally agree with you!
Liberals have been beating the drums on the evil wealthy people and corporations, they wanted to and in some cases were sucessful in creating class envy,
If the government raises taxes on corporations we, the consumer will pay the extra charge the corporation charges us for their product. Regarding the very wealthy person, no matter what they do or not will not make a whit of difference in my life.
I can remember as a young kid I thought the same. Even then librals were screaming about the evil republican conservatives.
Laughing is a real hoot…
The man on the radio who claims to have the largest audience on the radio, XXXX XXXXXXXX, is on record as favoring the flat tax or a similar very simplified tax code:
http://www.fairtaxblog.com/20051021/rush-limbaugh-reviews-the-fairtax-book/
excerpt from the print version of the XXXXXXXX Letter:
http://citizens4cain.com/site/blog/2011/04/27/rush-talks-herman-cain-with-caller/
CALLER: Were talking about solving the economic problems and here on the local radio stations, the conservative radio they talk about flat taxes. And what do you think about that?
RUSH: What do I think about flat taxes?
CALLER: Hm-hm.
RUSH: I like flat tax, FairTax, I like it. I like it. The current tax system is not productive. Its a joke. Its rife with favoritism. Its rife with opportunities for fraud. Its so complicated nobody can figure it out.
CALLER: Right.
RUSH: Nobody knows whether theyre violating the law every time they file their return or not. Its confusing as it can be, by design. The tax code, Carly, you have to understand the tax code is used as the greatest form of social architecture the government has, and thats why theyre not gonna give up the power of going flat tax. Nobody is now. If you hear a politician campaign on it, be very, very insistent that they are serious and not just mouthing the words. But its going to take more than one person to make that happen. The entire lobbying industry is built around the tax code and we are talking trillions aggregately of dollars. It is built around the tax code and rewriting it and massaging it each and every year. Politicians use it to structure society, to grant favors or to punish opponents.
The tax code is one of the single greatest sources of power elected officials in Washington have. And with a flat tax, politicians would have to use their own money to buy votes. Right now they can use the federal Treasury to buy votes. With a flat tax, with no complication, very simple, heres what you make, heres the rate you owe, send it in, one page. It would be really difficult to camouflage a whole lot of government spending as slush funds. I mean politicians buy votes these days with the tax code. They buy votes with government programs. The simpler the tax code becomes, the fewer government programs there are related to it, and the fewer votes you can buy. Its a way of saying that the tax code today is an insidious device of power maintenance. It is not at all about raising revenue to fund the government. Thats the last thing its concerned with. And, of course, the flat tax idea and the FairTax is all oriented toward creating revenue to run the government. But thats not what the tax codes about. Thats not what its evolved to at all, and dont anybody try to tell me it is.
Nobody cares a whit how much money is raised via the tax code. If its it is not enough well just borrow it. If its not enough well just spend it. The tax code is used to reward and punish, to shape, to motivate, inspire, whatever, social architecture. Asking these guys to vote to give that up would be akin to getting Hu Jintao to sign over the ChiComs to a totally market based capitalist system. It is not saying we shouldnt aim for it and go to it. I just want to be honest with you here about what it is. Its easy to say youre for a flat tax, and I am, Im much for simplification, fairer, everything else. Id be happy to pay taxes 20% of what it is, 15% and be done with it. Everybody would. And, by the way, the amount of revenue that would be generated going that way would double. If people got to keep 80 of every dollar they earned, you would not believe all the new income that would be discovered that wouldnt be hidden, that wouldnt be sheltered. My God, the government would make out like bandits. But thats not the purpose of the tax code. I gotta go. Carly, Im glad you called.
A flat tax , one page, would certainly eliminate loop holes.
Sorry, Laughing, I didn’t feel I should disguise the man on the radio’s name in the links I posted…our readers wouldn’t be able to follow them.
Anyhoo….if not this fellow on the radio, what radio guy were you talking about? Or are you just one of those internet blog hit and run propagandists (without the good sense God gave a squirrel?)
Just a short while ago Democrats had a super majority, they had a Democrat President and controlled both houses of Congress.
Democrats could have easily passed legislation to close every tax loophole in the books.
But they didn’t. Closing tax loopholes was not even raised as a serious political issue.
As Rush Limbaugh stated, “politicians buy votes these days with the tax code.”
Democrats are no exception. Far from it. The only time Democrats bring up the issue of tax loopholes is to try and use it as a weapon for political charlatanism.
What Democrats did do when they had complete control of the federal government was to approve adding trillions of more dollars to spending, trillions more to the national debt, and again raised the debt ceiling. Business as usual. All while the economy tanks and unemployment soars.
What does that tell you?
Jack is absolutely spot on when he tries to get the message though to the liberal dunderheads who frequent this blog is that the problem isn’t tax loopholes. Of course there should be comprehensive tax reform that not only closes loopholes but could, if properly drafted, make them obsolete. Not even the dead George Steinbrenner is against that.
This crap about loopholes (and it IS crap) being thrashed about by Obama and Democrats is a diversion away from the real problem — out of control, unsustainable government spending and the coming economic disaster that such spending is driving us towards.
I have been advocating and voting for radical tax reform and against government largess for 3 decades. It didn’t do a damn bit of good. There seems to be no end to Republican lip service and Fat Cat, Big Government Democrat wealth confiscation and squandering.
I am not optimistic.
“The top 1 percent of taxpayers now pays a greater share of the income tax burden than the bottom 90 percent combined.”
When are you gonna stop throwing this around. It doesn’t mean anything … except, of course, that that top 1% have got way too big a slice of the pie.
And the chief contribution would seem to be generating jobs that pay so poorly they don’t make the lowest tax bracket.
This has got to change, and it’s going to.
I love how the left uses catchphrases like “pay their fair share,” yet they never, ever define what that share is. The only definition we get is that “fair share” means more and more every year until we bleed you dry.
So I would ask our left of center commenters to please define it. What is the tax rate you think is fair for everyone to pay?
In California, anyone making over $60k per year likely pays about half their income to government, when you count federal, state, local, sales, property, and all the other taxes government dreams up to bleed us all out.
IS HALF OUR INCOME JUSTIFIABLE? I don’t think so.
Fair share means simply that the wealthy “persons”
pay the same rate as the working stiffs. If you pay 15%, then make GE and Exxon pay 15%. Through loopholes, they pay far less.
Are you happy to pay 50% of your income while some of the wealthy pay zero, even getting billions from us taxpayers? How come?
They cannot pass the tax through to me if I don’t buy their products. You would not believe how many people don’t understand that. You would not believe thenumber of people who say,”Corporations don’t pay taxes, they pass them through to the consumer,but forget that you have to be a consumer,1st.
The Republicans had majorities in both houses and the presidency for 6 years. If they were serious about closing the loopholes, they would have done so.To say this is not also the fault of the republicans is puerile nonsense!
Rush Limbaugh wants a flat tax on straight income. The $167Million ‘bonuses’ given to exceutives would not be taxed at all. Rush would incorporate himself and pay himself a salry of one dollar. Rush does not want the flat tax to extend to corporate ‘persons.’
You are once again incorrect.
If you have access to transcripts, check them for7/8/1111
Thank you.
Steve, as you well know if the Left were ever clear about their agenda, ideas and goals, they would not only never get elected, they would probably have prices on their heads. Now that is some stimulus I could get behind!
Libby: ” except, of course, that that top 1% have got way too big a slice of the pie.”
Libby “the pie” is not a collectively owned entity. The pie is not restricted in size. The slice of pie that any individual makes can be as large as his ambition and hard work can make it. It can also, by preference, be small…some people think less is better. Being smart about how you prepare for adulthood, how you work, save, and invest, makes the difference.
We were given a free society and system. One person’s wealth does not diminsh anothers capacity to make and acquire wealth.
“And the chief contribution would seem to be generating jobs that pay so poorly they don’t make the lowest tax bracket.”
This is absolute progressive claptrap and nonesense. If a person doesn’t like his job or pay he can, 1. Acquire better skills, or 2. Get a different/better job, 3. Take a risk and become his own boss by starting a business.
Opportunity is all around you. Our educational system that teaches dependency and victimhood has made virtual idiots of even the educated among us…people like you, Libby.
The collective mindset doesn’t work and that Marxist share the wealth stuff is what makes the rich hold onto their wealth (rather than invest in industry) and the numbers of the poor grow and grow. Look around, you can see it unfolding right before your eyes! (envy is a poor substitue for ambition and greed, expressed through wealth transfer achieved by extortion, manipulation, lying, covetousness, or threat (think ACORN threatening lawsuits for bad loans) is more destructive to our society than is any individual business owner who keeps more profit for himself.
Re Laughing’s: Rush Limbaugh wants a flat tax on straight income. The $167Million ‘bonuses’ given to exceutives would not be taxed at all. Rush would incorporate himself and pay himself a salry of one dollar. Rush does not want the flat tax to extend to corporate ‘persons.’
Now this lunatic pretends to speak for Rush Limbaugh.
Re Tina’s: Libby “the pie” is not a collectively owned entity. The pie is not restricted in size. The slice of pie that any individual makes can be as large as his ambition and hard work can make it.
Precisely.
I know all about pie. And I know all about liberals. If there were a pie, liberals like Libby would set themselves up as the great arbitrators of who gets what and give themselves a huge salary with fully paid medical benefits and a fat retirement program for doing the hard work of confiscating what you earn and squandering it.
Wait a minute, they already do that.
In any case, who in their right mind would want Libby (or any other left-wing nincompoop) deciding how much money they make and get to keep?
L: “Rush does not want the flat tax to extend to corporate ‘persons.’
You are once again incorrect.
If you have access to transcripts, check them for7/8/1111”
for 7/8/1111?
Surely you erred?
But it doesn’t matter. I imagine the transcript would reveal that Rush thinks corporations should not pay taxes. I agree. They become part of the cost of doing business and as such get passed on to the consumer in the form of higher prices or fewer jobs. LUCKY YOU…YOU LIVE IN A FREE COUNTRY & HAVE THE CHOICE NOT TO BUY!
Our high corporate taxes make competing in the world market difficult…revenues are lost to government…our vibrant economy is dull and flat…business, and therefore jobs, are pushed out of the country to other fortunate souls. For Americans its lose…lose…lose!
Rush is quite visable, as are most very big money makers. He would have a heck of a time justifying $1.00 in wages to the government and he is anything but a fool. He is also a patriot who would gladly help to fund a smartly run limited government, as would most Americans. (At least those who have not succumbed to dependency would) We would still prosecute blatant cheaters.
Legislation for taxes, even a flat tax, would be written so as to encourage compliance and discourage cheating. They would make sure that corporate books could not be hidden away in a vault when the government comes knocking. Any expenditures for personal items like food, house payment, insurances, energy, gasoline, vacations, yachts, a villa in Rome, or a purchase from Tiffany’s would all be right there for them to scrutinize and tax. Clearly it would all add up to more than $1.00…get real and quit with the dark cynicism. (and hate)
Oh yeah…also….RUSH’S MONEY IS NOT THE GOVERNMENT’S MONEY…IT’S NOT YOUR MONEY EITHER…THEREFORE IT’S NONE OF YOUR BUSINESS THAT HE EARNS A LOT!
As a self proclaimed “classic liberal” I would think you would abhor such intrusions into the affairs of a fellow citizen.
As for loop holes I have always been in favor of a simple easy to follow tax code…and I think everyone who is an adult and has the capacity to work should have a stake, no matter how small, in our country. No more freeloaders.
Re Tina’s: I imagine the transcript would reveal that Rush thinks corporations should not pay taxes. I agree. They become part of the cost of doing business and as such get passed on to the consumer in the form of higher prices or fewer jobs.
WOW! WOW!!! You go girl! Dang, I think I am in love! (No worries, it is only Platonic. I won’t be stalking you.)
This is the single most crucial and salient fact that the left NEVER GETS! NEVER EVER! Like dogs who can’t figure out how to walk around the tree in the opposite direction to take out the leash wraps.
I have been trying to teach this simple concept to liberals for over 30 years with little to no success. You might as well try to teach a donkey calculus. (Maybe the acerbic Michael Savage is right, liberalism is a mental disorder.)
Corporations do not pay taxes, they collect them.
Let me try that one more time …
CORPORATIONS DO NOT PAY TAXES, THEY COLLECT THEM!
It is people who pay taxes, not corporations. When some liberal idiot earnestly proclaims “Tax the corporations!” he or she is effectively saying “TAX ME!”
OK, I’ll calm down now.
Thank you Tina.
Could someone please give me the name of an individual or small business owner making $250 thousand a year who is flying around in their own million dollar jet. Please, with all of the tens of thousands of people out there someone must know of at least one. I sure dont. To lump them into the same category and tax bracket as the Bill Gates and a handful of other super rich is just plain wrong on so many levels. And to raise the taxes on these individuals who are the engine to our economy is just plain wrong.
If Obama, Gates and the other super rich want to pay more taxes whats stopping them from writing a check to the IRS? Nothing!!
We all know what happened to the yacht industry when taxes were raised on them. Business shut down and went over seas, people got laid off and a democrat politician bought one and registered it in a different state to avoid paying the taxes due the state he lived in.
Hypocrite – somebody feigning high principles: somebody who pretends to have admirable principles, beliefs, or feelings but behaves otherwise
Encarta World English Dictionary & (P) 1998-2005 Microsoft Corporation. All rights reserved.
Pie – You and I could be dual stereo speakers.
After being a member of a family business and owning my own I have been shouting this from the roof-top for years. But, since most liberals have never owned a business and, therefore, have no idea what is involved they when I tell them this I get a dear in headlights look.
I’ll tell you, after hearing Herb Cain speak he is sounding better and better. At least he understands the concept of running a county and where to make cuts when necessary. He’s showing a better understanding than our community organizer who can’t organize a written budget plan to put on a table to negotiate over. Was it the CBO that said they couldn’t score air or a speech? Something like that. Loved it!
“This is absolute progressive claptrap and nonesense. If a person doesn’t like his job or pay he can, 1. Acquire better skills, or 2. Get a different/better job, 3. Take a risk and become his own boss by starting a business.”
This is the sort of stuff the capitalist class consoles itself with … in denial of all economic reality.
Tina, tell us now, how a fella with a wife and four children (you will not countinance birth contrrol, remember) is to start his own business on $10 an hour.
We’re panting to hear.
“Libby “the pie” is not a collectively owned entity. The pie is not restricted in size.”
Who said it was? I said the top 1% has got way too big a slice … a fact you cannot refute.
Your response is a regress into pie-in-the-sky capitalist horsepucky refuted only just recently by all those 401k’s, nationwide, at half their 2008 value.
I was reading my Harper’s today, and it was, as it will, with regard to the work of a fella named Francis Fukuyama, marvelling at the wage earning conservative’s ability to mistake it’s own interest.
Sigh.
Herman Cain was on Fox News Sunday this morning. I have heard him speak before. The guy would make an excellent President. I hope he keeps his hat in the ring. I would vote for him in a heartbeat.
If elected he might even ask economist Walter Williams to serve in the administration. How about Thomas Sowell as White House Press Secretary?
http://www.foxnews.com/on-air/fox-news-sunday/index.html#/v/1062128412001/herman-cain-on-fox-news-sunday/?playlist_id=86913
I was surprised Chris Wallace didn’t understand what Cain was explaining about Sharia law vs. the laws of our constitution being in conflict at the community where the Mosque is being built. Cain was saying the problem according to the community wasn’t over them being able to practice their faith, it was with Sharia law being a part of the Islamic faith.
Libby: “This is the sort of stuff the capitalist class consoles itself with … in denial of all economic reality.
Tina, tell us now, how a fella with a wife and four children (you will not countinance birth contrrol, remember) is to start his own business on $10 an hour.
We’re panting to hear.”
First of all I’ve never said I don’t “countinance birth control” so I don’t know where you came up with that one.
Secondly there were three suggestions in my list. Starting a business might not be practical for your extreme example but it would be for many others.
And third your attitude would never do for a person starting a business. It takes guts, grit and some sacrifice. There are millions of such stories “in the naked city” but since we’re just here in lil’ ol’ Chico, here are just three:
The first is the Bogdon Box Bass story:
http://www.allbusiness.com/company-activities-management/company-structures-ownership/12071199-1.html
And there’s this scardy cat story (he had no money) in the WSJ:
http://online.wsj.com/article/SB10001424052748703720504575376664285510930.html
And finally theres this story of bootstrapping your way to success:
http://www.inc.com/magazine/20010801/23220.html
People do it every day of the year Libby. But for those who can’t there is still the option of finding a different job or acquiring new skills.
“I said the top 1% has got way too big a slice … a fact you cannot refute.”
Their money is their property Libby. That is the way it works. It is not your money…or mine…or the governments…their money isn’t our little piggy bank to share. You will have to let go of that collectivist thinking to understand the concept. I assure you it is an American concept. It’s called personal property and it is protected by the Constitution…at least it’s supposed to be. Our transforming, redistributing President and his cadre seem to think otherwise.
“Your response is a regress into pie-in-the-sky capitalist horsepucky refuted only just recently by all those 401k’s, nationwide, at half their 2008 value.”
Don’t you dare make me explain to you once again how your friends poisoned the market with those bad loan ideas of theirs…AND THEY ARE DOING IT AGAIN!
Markets will go up and down and a wise investor must be congnisant of that. Most are doing much better now…wish the economy was. But more than that hows that government spending workin out so far? This prez has squandered a couple of trillion…the sharp rise in our public debt is a testiment to the wonderful investment of government spending. Good gawd woman wake up.
“I was reading my Harper’s today…”
There’s a round file that Harper’s would fit into nicely…maybe one day you’ll wise up and file it permanently.
Mr. F. says it for me.
I always remember that scene in Dr. Zhivago, and it makes me shivver – the doc comes homes from the war to find his house full of the local people, laundry hanging in the living room, etc. An old biddy approaches him and says, “Shame on YOU, Doctor Zhivago – ALL THIS HOUSE, FOR JUST ONE FAMILY!”
“I imagine the transcript would reveal that Rush thinks corporations should not pay taxes. I agree.”
That’s just fricking nuts. Most Americans would abhor such a policy. The majority want higher taxes for the rich.
You may not be concerned about economic inequality, Tina…after all, what’s the big deal, the rich earned that money, right? But when 1% of the country owns almost half the wealth in that country, then there is a problem. And most Americans can see that. Why can’t you?
Chris: “The majority want higher taxes for the rich.”
Yes thanks to the lousy education most Americans now receive they think it will help. But it depends on how the questions are asked:
http://www.gallup.com/poll/147881/Americans-Divided-Taxing-Rich-Redistribute-Wealth.aspx
Besides its a stupid fix for the out of control spending problem in DC:
http://www.washingtontimes.com/news/2010/apr/15/raising-taxes-on-rich-unlikely-to-cut-deficit/
Talk about a job killer!
Progressive are not only covetous of the property of others but stupid about what creates jobs as well.
Libby here’s another woman who is on track to make a mil this year through her entrepreneurial spirit:
http://www.dailymail.co.uk/news/article-2015886/Rebecca-Rescate-set-make-1m-CitiKitty-cat-toilet-training-kit.html
It should be fairly clear by now from where Chris draws his perspectives and theory on class warfare and wealth distribution.
http://www.marxist.com/who-owns-wealth.htm
The vanguard of the revolution today will be the leaders of the proletariat tomorrow.
My hunch is he is bucking for a leadership position and uses this forum to garner enough “street cred” to impress his comrades.
Chris: “But when 1% of the country owns almost half the wealth in that country, then there is a problem.”
What is the problem? In America wealth can be created. Opportunities to better oneself and ones station are all around us.
Also wealth “owned” by others is largely invested in one form or another: stocks, bonds, mutual funds, savings and investment accounts, or spent on products and services that support the working folk. Money that isn’t invested or spent is given to charity, education, the arts or research and development projects.
I repeat, what exactly is the problem?