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Confiscatory tax rates cannot be justified as revenue-generators, because they don’t raise much money. They discourage work, they drive away investors and entrepreneurs to lower-tax jurisdictions, and there aren’t enough rich people to keep the government going very long, even if all their assets were expropriated. If assets were expropriated this year, that would be a one-time event, and next year government would have no choice but to plunder the middle class and the poor.
1 posted on 10/18/2012 6:35:35 AM PDT by SeekAndFind
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To: SeekAndFind

It appears that Forbes is trying to slink back to the Right, or at least to the Middle, after its Left-leaning dalliances.

I’m still not renewing my subscription.


2 posted on 10/18/2012 6:40:38 AM PDT by Arm_Bears (Re-distribute my work ethic, not my wealth.)
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To: SeekAndFind
But Obama’s priority is class warfare. That’s why he relentlessly denounces job creators as “millionaires and billionaires.” That’s why he demands that they be punished with higher tax rates.

At first, I thought the man is an economic illiterate but then I read Sol Alinsky's Rules for Radicals that a liberal friend of mine gave me. He is following that book almost chapter and verse. He is out to destroy this system. Either that, or he's a Harvard idiot.

I also can't figure out how libs can be so stupid as to want a lower unemployment rate, but want to punish the very people who create jobs. In 45 years of working, I never once had a poor person give me a job. Can't those stupid people see that a rising tide lifts all boats? Idiots...all of them.

3 posted on 10/18/2012 6:42:25 AM PDT by econjack (Some people are as dumb as soup.)
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To: SeekAndFind
But Obama’s priority is class warfare.

Face it. Obama is what he is. He was born into Marxism, trained in Marxism and fed on Marxisms all his life. Along with Chicago Style (Marxist based) politics he knows nothing else and would believe nothing else even if it was made abundantly evident to him.Class warfare is a principal tenet of Marx and of Obama.

4 posted on 10/18/2012 7:05:49 AM PDT by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: SeekAndFind

Ever since the Bush tax cuts of 2003 Democrats have had a bone in their throat called “tax cuts for the rich”. They have croaked about this for the past 9 years. So, why didn’t the congress end these tax cuts for the rich in 2009/2010 when they had absolute majorities thereby separating these cuts from cuts for every one else? They could have ended these cuts with a one sentence bill! The Democrats wanted to keep “tax cuts for the rich” as a class warfare issue. They really want all of the Bush tax cuts to expire so they can blame Republicans for not giving in on “tax cuts for the rich”.


6 posted on 10/18/2012 8:33:54 AM PDT by Patron92
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