[gusty]

It is true that tax rates were the highest in our history. However, back in those days there were tax shelters all over the place. The rates were high, but nobody actually paid them. The rich barely paid any taxes. Reagan ended this in the 80’s. Liberals have this fantasy that rates can buy something. Only actual money collected can. Something tells me that the super rich want to go back to those days, and that is why the super rich support the Democrats. That way they can fund the liberals campaigns in exchange for what ever tax shelters they want. The liberals than tell their dummie base how they are socking it to the rich. In the mean time, us in the middle will be hammered with higher taxes and higher prices.

[Soul of the South]

If the Democrats really wished to redistribute money from the wealthy they would advocate an asset tax or intangibles tax in addition to the income tax. Take a percentage of the net worth of people above a certain threshold. For example a 2% tax on net worth would raise a considerable amount of money. Take Oprah Winfrey, reported to have a net worth of $2.4 billion. A 2% “wealth” tax would raise $48 million per year. Barack Obama’s $10,000,000 net worth would generate $200,000 per year. George Soro’s has a net worth of $14 billion which would raise $280 million per year at 2% and $1.4 billion at 10%. Wouldn’t that only be fair?

The liberal millionaires and billionaires will gladly accept an increase on marginal tax rates and then use their influence to work loopholes into the system to reduce the bite of the taxman. However, put a true asset or net worth tax on them and you will hear the engines fire up on the private jets as they take their wealth out of the country to other nations.

While I am not an advocate of increases in marginal tax rates nor a wealth tax in a perverse sort of way I’d like to see the Republicans aggressively propose a wealth tax and watch the Democrats squirm when their wealthy backers say “no way”.