I notice that most of the rich guys saying to raise taxes on the rich are rich enough that they can, so to speak, pay for tax lawyers and accountants out of pocket change.
The super rich avoid paying income taxes because many of them receive stocks as compensation instead of cash (bonuses in the form of stock options for many CEO’s). Therefore any taxes are deferred until they cash those stock certificates in.
So all this talk about “taxing the rich” ain’t gonna fly. Secondly, these 8,000 super rich Americans do not have an accumulated wealth that would even put a dent in the federal deficit. So you could steal all their money and still have over $10 trillion in debts...
This Chicago street thug president wants to stir up his street thugs because that is the only chance he has for re-election.
However, another kind of populism is gaining more power in the US, and it’s the Tea Party. 2012 can’t come soon enough...