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Tax the Super Rich now or face a revolution
Market Watch ^ | March 29, 2011 | Paul B. Farrell

Posted on 03/29/2011 8:57:23 PM PDT by Christus_Rex

Yes, tax the Super Rich. Tax them now. Before the other 99% rise up, trigger a new American Revolution, a meltdown and the Great Depression 2.

We know the Super Rich don’t care. Not about you. Nor the American public. They can’t see. Can’t hear. Stay trapped in their Forbes-400 bubble. An echo chamber that isolates them. They see the public as faceless workers, customers, taxpayers. See GOP power on the ascent. Reaganomics is back. Unions on the run. Clueless masses are easily manipulated.

Even Obama is secretly working with the GOP, will never touch his Super Rich donors. Yes, the Super-Rich Delusion is that powerful, infecting all America.

Here’s how one savvy insider who knows described this Super-Rich Delusion: “The top 1% live privileged lives, aren’t worried about much. Families vacation at the best resorts. Their big concerns are finding the best Pilates teacher, best masseuse, best surgeons, best private schools. They aren’t concerned with the underlying deterioration of America or the world, except in the abstract, because they aren’t directly affected by it. That’s not to say they aren’t sympathetic, aware, or don’t talk about the issues you bring up. They are largely concerned with protecting and enhancing their socio-economic positions, ensuring their families live well. And nothing you write about will change things.”

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Government
KEYWORDS: business; communism; irs; molassesmiasma; obama; penguinhumor; superrich; taxtherich; zot; zotlist
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I disagree with some of his opinions, but I strongly agree that the super rich need to pay more of their share. They hire the best lawyers and financial advisers who are experts in hiding their wealth, defraying taxes incurred, stashing assets in offshore banks, incorporating outside the US in tax shelters, etc. Bear Sterns gave millions to Obama!
1 posted on 03/29/2011 8:57:28 PM PDT by Christus_Rex
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To: Christus_Rex

I vote for the revolution. It’s time to cull the herd anyway, and get rid of the freeloading class that we taxpayers have been supporting for decades.


2 posted on 03/29/2011 8:59:59 PM PDT by meyer (We will not sit down and shut up.)
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To: Christus_Rex

Somalia is missing a pirate, apparently.


3 posted on 03/29/2011 9:00:51 PM PDT by denydenydeny (Power always thinks it has a great soul and vast views, beyond the comprehension of the weak-Adams)
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To: Christus_Rex

End the Dole! End all government subsidy. Let the rich keep what is theirs. Everyone else is entitled only to what they can earn and keep in the society they choose after balanced taxation. Income should be tax free so that each man keeps what he earns. (Off soapbox)


4 posted on 03/29/2011 9:01:44 PM PDT by samadams2000 (Someone important make......The Call!)
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To: Christus_Rex
This article is very lefty. However, I do have to agree they can be sneaky in not paying what law prescribes. I wonder if the article would support a fair tax and get rid of the income tax? That's what I think is the best solution
5 posted on 03/29/2011 9:03:07 PM PDT by nerdwithagun (I'd rather go gun to gun then knife to knife.)
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To: Christus_Rex

Biggest Pile of Marxist CLAPTRAP I’ve EVER READ.


6 posted on 03/29/2011 9:04:03 PM PDT by gwilhelm56 (To anger a Christian, Lie to them. To anger a muslim, tell them the TRUTH!)
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To: Christus_Rex

I, personally, would rather see money in the hands of the ‘super rich’ than in the hands of a politician. Politicians squander wealth.


7 posted on 03/29/2011 9:04:12 PM PDT by fhayek
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To: Christus_Rex

>> I strongly agree that the super rich need to pay more of their share.

Really? To pay who’s bills?


8 posted on 03/29/2011 9:05:16 PM PDT by Gene Eric (*** Jesus ***)
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To: Christus_Rex

Let me tell you the beginning of a story, and see if you can guess how it ends:

“First, they came for the Billionaires. I didn’t have a billion dollars, so I didn’t speak up for them.”

It doesn’t have a happy ending.


9 posted on 03/29/2011 9:06:03 PM PDT by Mountain Troll (My investment plan - Canned food and shotguns)
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To: Christus_Rex

Sounds like a DUmmie post


10 posted on 03/29/2011 9:06:24 PM PDT by Ophiucus
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To: meyer

“I vote for the revolution. It’s time to cull the herd anyway, and get rid of the freeloading class that we taxpayers have been supporting for decades.”

I’m not far from you. For the people who work for companies we bailed out, like Goldman Sachs, GM, AIG, Fannie, etc., I think that we should simply take everything that everyone makes over $250k per year. If they cannot live on that, then they can go to another company that hasn’t added to the debt that my kids (and future grand kids) will be stuck with.

And once we do that, we need to dig into their assets. I would say that $2 million should be enough for them to live comfortably through retirement (although maybe I could be pushed up a million more).

And I feel the same way about welfare...if you take government money, then you SURE AS HELL should be poor - which means no plasmas, no Nike’s, no I-Pads, etc. If you really need the government to extort other people’s money, then PROVE IT and LIVE IT.


11 posted on 03/29/2011 9:07:02 PM PDT by BobL (PLEASE READ: http://www.freerepublic.com/focus/f-news/2657811/posts)
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To: Christus_Rex

The rich won’t make even a decent appetizer. We’ll be at each other’s throats in no time. That’s what always happens when society aims to for the quick fix.

/aint rich
//am familiar with history and human nature


12 posted on 03/29/2011 9:08:12 PM PDT by kinghorse
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To: Christus_Rex

IBTZ?


13 posted on 03/29/2011 9:08:50 PM PDT by Ingtar (Together we go broke (from a Pookie18 post))
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To: Christus_Rex

What is their appropiate share? The top 1% pay 38% of the income taxes in this country. Almost 50% of Americans pay no income tax. What is a fair share for all Americans?


14 posted on 03/29/2011 9:08:55 PM PDT by kabar
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To: Christus_Rex
the super rich need to pay more of their share

How much should they pay?

15 posted on 03/29/2011 9:09:04 PM PDT by paul51 (11 September 2001 - Never forget)
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To: Christus_Rex
The wealthy are nothing other than the successful poor and middle class.

16 posted on 03/29/2011 9:09:11 PM PDT by I see my hands (Embrace misanthropy)
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To: samadams2000

Sales Tax
School Tax
Liquor Tax
Luxury Tax
Excise Taxes
Property Tax
Cigarette Tax
Medicare Tax
Inventory Tax
Real Estate Tax
Well Permit Tax
Fuel Permit Tax
Inheritance Tax
Road Usage Tax
CDL license Tax
Dog License Tax
State Income Tax
Food License Tax
Vehicle Sales Tax
Gross Receipts Tax
Social Security Tax
Service Charge Tax
Fishing License Tax
Federal Income Tax
Building Permit Tax
IRS Interest Charges
Hunting License Tax
Marriage License Tax
Corporate Income Tax
Personal Property Tax
Accounts Receivable Tax
Recreational Vehicle Tax
Workers Compensation Tax
Watercraft Registration Tax
Telephone Usage Charge Tax
Telephone Federal Excise Tax
Telephone State and Local Tax
IRS Penalties (tax on top of tax)
State Unemployment Tax (SUTA)
Federal Unemployment Tax (FUTA)
Telephone Minimum Usage Surcharge Tax
Telephone Federal Universal Service Fee Tax
Gasoline Tax (currently 44.75 cents per gallon)
Utility Taxes Vehicle License Registration Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Recurring and Nonrecurring Charges Tax

FAIR SHARE?????????


17 posted on 03/29/2011 9:10:30 PM PDT by gwilhelm56 (To anger a Christian, Lie to them. To anger a muslim, tell them the TRUTH!)
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To: Christus_Rex
And what gives the government the right to take money from successful citizens?

Advocates of Obamacare argued the 14th Amendment - equal protection.

QUESTION: why does it apply to health care, and not to taxes? Hmmmm?

18 posted on 03/29/2011 9:11:43 PM PDT by LiteKeeper ("Psalm 109:8")
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To: Christus_Rex

It’s always easy to spend someone else’s money.
Thanks for the communist manifesto.
It’s our greedy governmet which is destroying the economy
with unsustainable debt.

Why are you fomenting class warfare? The super rich pay more in taxes than most people will earn in a lifetime.
The economic benefit from those wealthy create capital.

You could plunder the wealth of this earth and never pay down our $60Trillion in unfunded liabilities.
Then what will become of the wealthy? They will cease to exist.


19 posted on 03/29/2011 9:12:49 PM PDT by ChiMark
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To: kinghorse

I’m with you.


20 posted on 03/29/2011 9:13:22 PM PDT by MortMan (What disease did cured ham used to have?)
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To: Christus_Rex

Can we start with George Soros? Please?


21 posted on 03/29/2011 9:13:29 PM PDT by IM2MAD
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To: Christus_Rex

Oh ONLY if the federal government had a little more tax money, THEN it would exercise fiscal responsibility.... (sarcasm off)

The dumbest article I have ever read. You could give our federal government 100 Trillion and they would still manage to spend more than they have. Don’t you get it!??? It does not matter how much money you give them, they still spend it all every time.

So to give them more money is NOT the answer!


22 posted on 03/29/2011 9:14:12 PM PDT by Sprite518
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To: kinghorse
I bet if you seized all their assets and sold them at
market value you couldn't pay the interest on the U.S.
debit for 1 year.
23 posted on 03/29/2011 9:14:57 PM PDT by DaveTesla (You can fool some of the people some of the time......)
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To: ChiMark

Confiscating ALL ASSETS of the Fortune 500 Corporations would run the US Government for about probably less than a WEEK!


24 posted on 03/29/2011 9:16:12 PM PDT by gwilhelm56 (To anger a Christian, Lie to them. To anger a muslim, tell them the TRUTH!)
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To: gwilhelm56

I am reporting all socialists to mods.


25 posted on 03/29/2011 9:16:21 PM PDT by omega4179 ( No war for The brotherhood)
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To: Ophiucus

It is a Dummie post.


26 posted on 03/29/2011 9:16:43 PM PDT by BunnySlippers (I love BULL MARKETS . . .)
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To: Christus_Rex

You’ve been watching too much TV.
The wealthy and super wealthy can only go so far with not paying taxes unless they broke the law.

Some are international and that is a different issue, if America wants to sue everything and have a bad business climate, then why should anyone come here?

How about we get rid of all the write offs for EVERYONE. Make one tax bracket and just have EVERYONE pay?


27 posted on 03/29/2011 9:17:16 PM PDT by A CA Guy ( God Bless America, God bless and keep safe our fighting men and women.)
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To: nerdwithagun

I agree.


28 posted on 03/29/2011 9:19:03 PM PDT by Christus_Rex
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To: Christus_Rex

This buys into the left world-view. Don’t tax them. Stop subsidizing them and make them compete like everyone else. To do that, you must remove the power from the government to give them other people’s money and to prevent others from competing againstthem. A large portion of the super rich are there because they figured out how to employ the guns of the state to favor their acquisition of money, to give them money or to protect them from competition.

If you take their money and give it to the state, their money will be used to direct more money and power as the state desires—achieving the opposite of the desired effect. It may change who is super rich and who is super powerful. But it will not change the fact of their existence because of an overweeningly powerful state.


29 posted on 03/29/2011 9:19:42 PM PDT by ModelBreaker
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To: Christus_Rex

I say we tax lottery winners 99.99999% of their earnings. They didn’t work hard for that money, so why should they have it? If you win $200 million on a $2 ticket, you should just get the $2 back. It’s only “fair”.


30 posted on 03/29/2011 9:20:23 PM PDT by Cementjungle
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To: Christus_Rex

Let’s find a smarter way to do business in this global environment and create jobs here in the US - that is one of the real problems. Going after the “rich” here in this country is just political football - it’s not really going to change the dynamics, but it certainly sounds good - especially considering that more potential voters are “have nots” than “haves”.

http://www.pcmag.com/article2/0,2817,2382706,00.asp

http://www.cbsnews.com/stories/2011/03/25/60minutes/main20046867.shtml


31 posted on 03/29/2011 9:20:48 PM PDT by khnyny (The mystery of government is not how Washington works but how to make it stop. P. J. O'Rourke)
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To: Christus_Rex

Google Paul B. Farrell to see the rantings of a nut case. To think a Freeper agrees!

Here is the same article on DU. The y LOE his ideas like you:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x595132


32 posted on 03/29/2011 9:21:11 PM PDT by BunnySlippers (I love BULL MARKETS . . .)
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To: Christus_Rex; All

Do away with the income tax...go back to tariffs or go to a FairTax type of system

The Free Trade Communist Globalists hate tariffs and FairTax....but those taxes are not punitive as the Income Tax. Any type of Income Tax...even a flat tax, is punitive because it punishes those who make money.

It is not “Super Rich” that need to be taxed....the taxes need to be placed on those who do not invest in America. Income Taxes reward shipping wealth from the US...tariffs and FairTax encourage investment in America...because it taxes goods...not wealth

You can see why Karl Marx loed Income Taxes and Free Trade: They are destructive to any nations economy and wealth


33 posted on 03/29/2011 9:22:00 PM PDT by UCFRoadWarrior (No, supporting Communist China is not a "conservative idea".)
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To: BunnySlippers

Typical reactionary response. Try thinking for yourself and not what the GOP spoon feeds you! That’s what a true conservative does.


34 posted on 03/29/2011 9:22:07 PM PDT by Christus_Rex
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To: Christus_Rex

Let’s start with the fat ones first: Micheal Moore, Orpah, actually they might just cover the next 2 years budget deficit themselves.


35 posted on 03/29/2011 9:22:27 PM PDT by MissMack99 (Mitt Romney is a FRAUD, he RUINED Mass. Don't let him finish Obama's job.)
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To: meyer

I vote for a revolution too! However, not the one you’re advocating. I believe the revolution that is needed is one which gets the heavy hand of government off of all of our necks. The super rich hide much of their money because of what the government has created in this country with thousands upon thousands of government pages of regulations and laws which only serve to give the politicians power over the governed - that is not the intent of our founding fathers.


36 posted on 03/29/2011 9:22:34 PM PDT by SoldierDad (Proud dad of an Army Soldier preparing to deploy to Afghanistan)
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To: BobL

“I’m not far from you. For the people who work for companies we bailed out, like Goldman Sachs, GM, AIG, Fannie, etc., I think that we should simply take everything that everyone makes over $250k per year. If they cannot live on that, then they can go to another company that hasn’t added to the debt that my kids (and future grand kids) will be stuck with.”

This is a “deal with the devil” solution. The problem is, the devil is a powerful government that has the monopoly on the use of force. You will never get the government to punish those it has elevated, unless to protect itself. Those folks are rich because they were part of a group picked to be rich by the same people you would be relying on to punish them.

Pretending to do that has been the progressive meat and potatos for over a century.


37 posted on 03/29/2011 9:23:19 PM PDT by ModelBreaker
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To: Christus_Rex

I agree 100%, we need to tax the super rich, we should start with George Soros and tax him 100%!

When the lefties sugar daddy gets de-funded maybe the wind will be taken from their sails.


38 posted on 03/29/2011 9:23:19 PM PDT by GraceG
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To: meyer
I hate to admit it but I've begun to lean that way myself.
My oath to protect and defend the Constitution is starting to ring a little hollow. Might as well water the tree before I get too old and the people too apathetic.
Semper Fidelis
39 posted on 03/29/2011 9:23:58 PM PDT by WePledge (Semper Fidelis)
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To: Christus_Rex

B/S.

The problem is not that people are taxed too little, the problem is that government spends too much. ~~Ronald Reagan


40 posted on 03/29/2011 9:24:28 PM PDT by Jim Robinson (Rebellion is brewing!! Impeach the corrupt Marxist bastard!!)
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To: Christus_Rex

1. I want America to have the richest individuals and companies.

2. Why would I want to take wealth out of the private economy and give it to government?


41 posted on 03/29/2011 9:25:40 PM PDT by Williams (It's the policies, stupid.)
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To: Christus_Rex

The instigation of class warfare is one of the most odious tools of the left.


42 posted on 03/29/2011 9:26:47 PM PDT by kanawa (Obama - "The only people who don't want to disclose the truth are people with something to hide.")
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To: Christus_Rex

I think we should raise taxes on rich politicians first, so that they may lead by example. Liberal, rich, big mouths like Warren Buffet who thinks his taxes should be higher should get an extra bonus tax hike.


43 posted on 03/29/2011 9:28:58 PM PDT by Moonman62 (Half of all Americans are above average. Politicians come from the other half.)
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To: BobL

Spread the wealth around, eh?


44 posted on 03/29/2011 9:29:58 PM PDT by Jim Robinson (Rebellion is brewing!! Impeach the corrupt Marxist bastard!!)
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To: Christus_Rex

Iowahawk punctured this “superrich” mentality in one of his hilarious blog posts:

http://iowahawk.typepad.com/iowahawk/2011/03/feed-your-family-on-10-billion-a-day.html


45 posted on 03/29/2011 9:30:08 PM PDT by Ronin (Tokyo Hot -- Looking forward to saving money on night lights!!!)
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To: Christus_Rex

To all the Freepers accusing me of socialism and wanting to steal from the rich to give to the poor you are in serious need of better reading comprehension and critical thinking!

I outlined corrupt/illegal actions that the super rich *routinely* use to escape paying the tax rate. That is what I meant by “fair share”, whatever the tax rate is! I am in favor of a flat tax.

Some of you are so clueless as to what is happening it’s shocking. The global cabal of bankers and super rich who are setting up the New World Order.

This knee jerk defense so many GOPers give when you dare to mention shenanigans the super rich are doing is pathetic.

Guess who engineered the financial and housing markets collapse and then made TRILLIONS afterward, it was the super rich! This fawning over them just because they have made it to the top of the money pile is unpatriotic and is frankly quite immature. The super rich have declared war on everyone including the rich, middle class and anyone else who doesn’t follow their plans.

How do you think the moron Obama was selected and funded? Evil super rich scum like George Soros and the selfish bastards on Wall Street and at the Fed who don’t care if they trash the US economy, tank the US dollar, and drive up inflation because AS LONG AS THEY MAKE HUNDREDS OF MILLIONS, BILLIONS OR TRILLIONS THEY DON’T GIVE A F**K ABOUT AMERICA! They are in some ways even more dangerous than parts of the Left because they have the money and thus the power to do what they want, unless/until enough of us wake up and oppose them.

Try doing some more thoughtful analysis before any of you dare accuse me of being a socialist or wanting to steal money from the rich!


46 posted on 03/29/2011 9:31:34 PM PDT by Christus_Rex
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To: Jim Robinson

No, I just have a big problem with people that get rich off of welfare...regardless of the type of welfare it is.

If they earn the money without using the government to take it from taxpayers, I’m cool with that.


47 posted on 03/29/2011 9:32:22 PM PDT by BobL (PLEASE READ: http://www.freerepublic.com/focus/f-news/2657811/posts)
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To: Christus_Rex
Whether by the way of the savage or through government . . .

#8. Thou shalt not steal!

48 posted on 03/29/2011 9:33:20 PM PDT by jonrick46 (2012 can't come soon enough.)
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To: BobL
Do you believe in free markets? How did you economic model come up with $250K? Zer0's number? The only debt created is by your buddy Obama.
Why do you people hate the productive people of our country and seek justice from the theives? Stalin dictated how much a person should make, how much wheat a farmer could grow, eliminated private property
etc.
49 posted on 03/29/2011 9:33:33 PM PDT by ChiMark
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To: GraceG

I wish we could stick Soros in Gitmo! I was reading that for most of US history the rich had a 90% income tax rate! LOL


50 posted on 03/29/2011 9:34:15 PM PDT by Christus_Rex
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