Skip to comments.It's time to tax the rich
Posted on 11/17/2010 8:17:50 PM PST by ChicagoConservative27
The final two years of the George H.W. Bush presidency brought a creeping recession, with an unemployment rate that increased from 5.6% in 1990 to 7.5% in 1992. In June 1992, just five months before the elections, the rate reached 7.8%, and Bush lost his reelection bid ("It's the economy, stupid").
What did the new president do about the economy? President Clinton in 1993 proposed to raise the highest marginal tax rate immediately from 31% to 39.6%. In a Wall Street Journal article, Martin Feldstein, the former chief economic advisor to President Reagan and then as well as now a professor of economics at Harvard, opined that "Mr. Clinton's proposal to raise the marginal tax rates of high-income individuals would hurt incentives, weaken the economy and waste investment dollars."
(Excerpt) Read more at latimes.com ...
I was just telling the wife the other day that it’s time to tax the lame stream “media”. Those bass turds are always pimping DemocRATS and government handouts. THEY should pay for them.
Gosh, what a novel idea! I bet no one’s ever thought of that before!
Anyone who believes that all men are created equal ought to agree that everybody should pay the same tax rate.
People who believe in different tax rates for different people implicitly believe that some people are inferior to others.
If you make more than $250,000 a year you are a small business. You probably employ a house keeper, a gardner, a dry cleaner with all the other discretionary spending you do.
When you tax more in a poor economy these jobs evaporate.
Good idea Donks! What do we do when “the rich” run out of money?
The bush 41 and Clinton comparison is dumb.
What these politicians do not understand is that many of these “rich” are small business owners filing their business earnings on their personal income tax. Increasing their tax hurts these businesses who are the largest source of employment in this country. Even taxing “millionaires” hurts the economy as these very rich buy expensive cars, eat at high end restaurants, employ household help and above all invest a greater portion of their disposable income than people with lower income. Taxing them more ripples through the economy with fewer jobs and less investment in new business.
What you tax you get LESS of....tax the “rich” you get LESS RICH.....such Einsteins, these people.....
If you do the low end of the wage earners are going to suffer!!
Eliminate welfare, food stamps, “Earned Income Tax Credit”, section 8 housing, etc and the current tax rates are just fine!!!
The rich cannot be taxed. Capitation Taxes must be apportioned and the 5th amendment requires just compensation for the taking of property.
The LA times want to tax the high income earners.
E.G. John Kerry, the wealthiest in Congress is invested in Muni Bonds (non-taxable). Warren Buffet does not get taxed on his wealth because it is mostly in unrealized capital gains.
I think I would eliminate any pay for Congress. Room, Board and Transportation should do it. You have the power and the means to get there. Get your room and meals provided and thats it. Keep your day job. That’s your money.
If we follow this crazy author’s advice the rich will leave the USA in droves.
It would be a better idea to make sweetheart-deal tax treaties with the rich like the Swiss do. Then rich people will flock to the USA and we will all be better off!
I want to live in a country with lots of rich people.
“Tax the rich/feed the poor/Till there are no/rich no more...”
OK we’ll tax Hollywood mansions and leave everyone else alone.
Nowadays, do they really want to raise taxes on the "rich" in the teeth of what they themselves are calling The Great Recession.
Idiots -- who would prefer to punish the rich...rather than reward the jobless.
Now if it said, oh, It's time to tax the liberal rich I think it might be a bit more palatable.
If he is he is an idiot (what am I saying of course he is). There are going to be a lot of Muni defaults.
Huh. And all along I thought we WERE taxing them. Silly me.
Surely the 'government' will bail them out.
Yeah, but if you did eliminate those, Democrats would never win another election.
As long as they are good 'tippers'.
Whereas now, they punish the rich conservatives, and reward the jobless liberals.
I think it’s time to tax the poor. To save them from themselves.