Posted on 03/08/2011 11:46:30 AM PST by bigjoesaddle
Last week I saw a video of a charming union member describe the Teaparty crowd in Wisconsin as "unintelligent". I was very impressed with his argument delivered through his yellow-toothed grin, tar-coated voice-box and Charlie Sheen logic, but one thing he did say was the Tea Party "cut taxes for the Billionaires". here he is, what a charmer, eh girls?
That may be true, so I thought, how about not just "taxing" Billionaires, but "robbing" them to reduce the debt? Just take all their money, every evil penny from Bill Gates, Warren Buffett, around 3 of the Walton WalMart kids, and their ilk! Sure it might hurt some businesses and workers, and be entirely against the will of every moralistic cell we have left in our bodies, but hey, this is the age of Obama, "We are all Socialists Now", and it would take care of the nearly 15 trillion dollar debt we have here in Amerika. (a trillion is a lot of money, check out my past article here.)
Found out there are 403 billionares in the United States....
Cha CHING!!!!!
OK fine, we will just pay the debt off and give back to the greedy SOB's what we don't use, that's the ticket! The total net worth of these 403 is........
1.3 trillion.
Crap.
So if we stole, not merely taxed, but STOLE all the money from ALL the billionaires in Amerika, we would only get a lousy 1.3 Trillion?
So the next time someone says we need to "tax the rich" to get the debt paid for, let them know that ROBBING them won't even work.
I'm going to try to hunt down and inform the gravel-throated Union intellectual about this, he must have missed some data in his research.
And I sadly put away the red bandana I was going to wear as a robber mask, that I bought at WalMart (no wonder those kids are rich).
They'd figure out some way to spend it.
The union members should start looking very closely at who really gets the big deals and money. They are being duped.
Stealing all the money from all the rich will not even cover the debt for 2 years. we are toast.
considering we spent $223 billion more then we had in february alone...
stealing all the money from all billionaires in the US would only pay for 6 months.
6 months.
they’ve been racking up the bills since the dems took congress 4 years ago. 0failure has only put it into overdrive for the last 2 years.
we need a revolt to stop this ... or there won’t be a country left to save
Oh look it’s the village idiot.
Safest to kill them, too. That way, they can’t use their excessive and unfair earning capacities to humiliate the proletariat any further.
The problem is logic doesn’t work on liberals. And none of them can do math. Even the ones who can do math have tunnel vision that prevents basic logic from working.
I use to defend all the rich from the looting of the liberals, but then I saw that most of these rich guys are democrats. So now I say let them defend themselves. I am not going to waste my time defending them if they are liberals anyway.
Of course since Bill Gates money in mostly in MicroSoft stock than that would trash the value of the outstanding shares in all the Pensions and 401k’s. Back in the 90’s the girls up at city hall were repeating the theory that if “we” took all of Bill Gates’ money that everyone would get $500,000. Of course they all said they’d quit their jobs for a while. Yeah, so would a lot of people. Want a beer in a bar? $50! Food? Forget it. Empty shelves. All the pickers went back to Mexico with their $500,000.
An alternative to taxing the rich to the point of the Laffer curve, is to take advantage of the Laffer curve to encourage the rich to invest more wisely.
That is, having just a few hundred thousand dollars in cash is a waste, so most everyone, usually with far less, invests it in something that will return a yield, so that their money is working for them.
However, as you head up the scale, in the still pretty low tens of millions of dollars range, investments have to be so complicated, and spread over so many different concerns, that many people prefer to use fund investing, where professionals do the investing for them, and there is less risk because your wealth is divided across so many investments.
Then, at the hundreds of millions of dollars, even that becomes inadequate, so investors go for hedge funds, in which the emphasis is not on increasing wealth so much as protecting wealth with mutually opposing investments, so one bet will lose, but another, its opposite, will almost certainly win.
But beyond that, investment enters a bizarre realm in which it becomes almost like gambling, called derivatives. And this is where it becomes a problem for the economy and everyone else.
So if there is to be a billionaire tax policy, it needs to steer them away from this kind of investment, and back to what can be called “forced creativity”.
That is, they need to be pushed away from the Wall Street gambling tables, in the direction of research, innovation, and technological advance. Oddly enough, even some of them agree with this concept.
Others, however, can’t resist trying to use their money to socially engineer, and this is a positive pain in the rear end to society. So they need to be steered away from this as well.
So, the dual question becomes, if a wise man was given many billions of dollars, what would he do with it? And, how can we get these billionaires to spend their money on the ideas of this guy?
Didn’t Michael Moore recently say that private wealth in this country was a public resouce. Of course hypcrit Moore is a miilionaire and is even suing the producer of his last movie because he didn’t get enough money. I think Moore should make a cotribution as big as his butt to help those poor union peoploe in Wisconsin ..but fat chance that will happen.
Poor people don’t hire people. Rich people do.
You know, it’s really not about “defending the rich”. Some billionaire’s money is harmless as long as it stays in their own hands - but heaven help us when we fall into the hands of a well-funded bureaucracy.
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