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To: rodguy911
I saw part of Fareed's opening, where he talks about the need to tax the rich. What nobody talks about is the overhead involved is determining who is rich, compared to who had a high income this year.

Because the only provision in the Internal Revenue Code for taxing the rich is the Estate Tax, and that happens only when you die. If/when the government decides to actually tax a Multi-BILLIONAIRE like Warren Buffet differently from a 200-MILLIONAIRE differently from some 30-year-old making his first million, that means the reporting and compliance involved will make the 1099 provision in Obamacare look as simple as changing the mileage deduction rate.

When I hear the proponents talk about raising 3.9 TRILLION from taxing the rich, like Fareed, there's no mention of the government spending required to build the buildings to house the employees who will have to write the rules, track the reporting, enforce the provisions, etc. etc. And the estimated amount of pension liability needed to provide for the retirement of all of those government employees needed to make sure that the rich pay a fair share.

Just because there's no development or collection cost for the unicorn tears we will use to power our personal commuting devices of the future doesn't mean that there won't be a cost involved in taxing the rich. It's just that nobody in the media or professional politics wants to confuse us with it. Increased tax proposals apparently don't have a cost; just increased opportunity for the wealth spreaders.

227 posted on 07/03/2011 2:53:38 PM PDT by Bernard (The only Fair Tax is the Tax that Taxes YOU and not ME)
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To: Bernard

IMHO, the entire scam is designed to make everyone poorer and the govt. richer. But,like most of their scams it won’t work. Any time you tax rich people they simply pass it on to, you guessed it, if you said middle class or poor people. The regime knows that but they don’t care. They have a tax and spend mentality and have no use for capitalism.


232 posted on 07/03/2011 3:43:56 PM PDT by rodguy911 (FreeRepublic:Land of the Free because of the Brave--Sarah Palin 2012)
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