[bsaunders]

Thanks for reading. This came to me while listening to a pair of "talking heads" on radio. They both constantly talked about taxing the rich and taxing the wealthy but based each on income, which is untrue and another deception. They do not want to tax wealth, they want to tax productivity.

[Oberon]

Personally, I think it’s a better idea to tax consumption.

[mrreaganaut]

IBTZ

[Tempest]

OMG this story is so sad I almost want to cry... Poor little rich people, life is so unfair.

[paulycy]

The world is full of wealth bigots.

[piytar]

The real purpose of high income taxes is to keep the middle class from moving up. That’s why the wealthy are all for it.

I’ve been talking about this for years, in fact since the days of GW’s “tax cuts for the rich.” The demscums’ line on this is all a lie, marxist class warfare propaganda.

Sadly, our NEA dumbed down population has far too many people who are too economically illiterate to understand your point.

[The Great RJ]

Hauser's Law shows that regardless of the highest marginal tax rate, total tax revenues stays at about 19% of GDP. This held true when the rich were being soaked in the 1950s with marginal tax rates of 90%+ as well as after the rate reductions with JFK, Reagan and Bush.

[silverleaf]

First of all, I doubt that anyone smart enough to have amassed $5 million and needing to live on the interest, leaves it in the bank at 2% interest. It’s liberal demagogery that implies the rich stick their money in mattresses and keep it out of the economy.

Second- an income of $100,000 does not provide a luxurious lifestyle for someone living on “the family estate” and paying all their own bills.

Get real. Property taxes alone would be tens of thousands of dollars- thats why so many rich democrats like Rangel, Pete Stark, Tom Daschle, falsely claim homestead exemption and skate on property taxes on their mansions in DC and Maryland

[RatRipper]

Capital has to be aggregated to be invested and made productive in assets that produce. Econ 101 tells you that captial is one of the factors of production in a capitalistic society as ours. When you attack wealth and try to confiscate it, through abusive or punative income taxes or estate taxes, you are attacking capitalism at its heart. That, along with Fascist-style control of products produced by business activity through onerous regulation, is what these leftist/progressive/socialist/Marxist/CommieRat Democrats in the White House and Congress have been trying to do to us. . . attack our capitalistic society at its very heart.