[CSM]

“AKA, raising taxes.”

They are only talking about raising INCOME taxes, not creating a new “wealth tax” that would confiscate accumulated wealth. Of course, this 401K discussion does address some of that, especially for the low level folks planning to maintain their independence. They also will get some from the death tax.

I’m talking more about the Buffets and Gates folks, if we are truly to discuss speading the wealth, then we should hammer the wealthy by confiscating everything over $X million dollars.

So, in reality Obama is talking about punishing achievement in income and not about actually “taxing the rich.”

[Clint N. Suhks]

Income is new wealth. Incrementally taxing it is redistribution in my book.

But I do agree either way it is punishing achievement at the same time.