Quote:
Originally Posted by Sailor Steve
And my opinion is that the "tax the rich" thing is a diversionary game played by liberals to try to level the playing field, and has nothing to do with the economy or the Federal Deficit. At the height of his wealth Bill Gates had 60 billion dollars. If we stripped Bill Gates of his entire fortune and distributed it equally, every man, woman and child in America would recieve...$200. Yep, two hundred dollars. If we stripped every single billionaire in America - all 385 of them - of everything they have, we would gain a total of $1.3 trillion (yes, I pulled out my calculator and did the addition), so a little less than five thousand dollars for each of us. And then they would all be broke, and then who would you complain about?
http://www.forbes.com/wealth/forbes-400#p_1_s_arank_-1_
$1.34 trillion. $1,340 billion. Last year's Federal Budget Deficit was $1.29 trillion, so breaking all of them might just pay off this year's deficit. Then what?
http://thehill.com/blogs/on-the-mone...ing-1-trillion
Oh, great!  While I was looking at this I just stumbled on a site which already did the work I just did, so I did it all for nothing!
http://www.federalbudget.com/
Anyway, every time someone brings up "Tax the rich more" or "make them pay their fair share" I have to wonder if that someone has a clue what they are talking about, or is just parroting another party line. |
My rationale behind it is that the effective tax rate on the top taxpayers in this country has steadily declined over the past 20 years, yet the proportion of the country's total wealth that they own has increased over that same time period.
The rich are not job creators. Demand is a job creator. And demand is not created by 2% of the taxpayers in this country. Demand is created by the other 98%. That's why I'd raise taxes on those most able to pay it before I'd raise it on the middle and lower classes.