Guess not. My lib friend wants a “90” percent tax on folks making 150,000 and up. I almost threw up.
I've got one of those where I work. When I pointed out the fact that taking 90% of the profits out of the company this brain dead lib moron WORKS FOR would leave NO money for HER salary she got a really blank look on her face.
"Well, they'll just pass a law saying it has to come out of HIS salary."
"What about MY salary?" I asked. "My compensation is commission on the sales I make. If they government is going to take 90% of what I make, why should I bust my ass to see that YOU have a f****** job?"
No answer. None.
We have reached DeToqueville's tipping point.
L
That would be me. Perhaps your friend would like to see a picture of our home and of our cars. We're about as middle class it gets. Maybe your friend imagines I have piles of money stuffed under the mattress; I only wish. But raise my taxes to anywhere near that level and I promise I will stop working, as will many of us, if only because rebellion requires time and effort.
Your friend sounds like a moron.
The libs forget about the power of those who bear the heavy burden to simply shrug it off. Think of Atlas Shrugged, but on a more limited scale.
Generally, higher income people have more ability to cut back on their earnings in response to confiscatory tax states than low income people. There are lots of exceptions, but a restaurant owner may be able to close on one of his least busy days (resulting in loss of jobs or at least reduction in work hours). (Yes. I know an IHOP on an interstate probably cannot do this). The anesthesialogist can cut back on the number of surgeries he does in a week. Same goes for lots of medical specialists. The plastic surgeon who has been working very hard may decide to do fewer nose jobs and breast implants, and spend more time on the gold course or in the garden or at home with his or spouse spouse and children.
I am not sure whether the sports and entertainment celebrities can benefit much from this approach, because they tend to hit it really big for a few years in which they need to make hay while the sun shines. They make so much that they will get nailed pretty bad anyway, but perhaps they will negotiate their new contracts to pay them less and demand less from them. Perhaps cut the number of games in a baseball season and take less per year.
This reality also tends to explain why there will not be a tax cut for the normal taxpayer. The gov'ts will need to get their revenues from the people who have to keep working full-time to survive and pay their bills.