Tax Hikes On Top Earners Won't Pay For Safety Net

Investor's Business Daily ^ | 12/6/2011 | Jed Graham

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As Occupy Wall Street turns its focus to D.C. this week, its long-term agenda seems to be higher taxes for the top 1% and firmer government support for everyone else.

If so, then what the protesters want — even if they aren't saying it and almost certainly don't even realize it — is higher taxes for the 99%.

America's progressive income tax system is not particularly well-suited to financing an expansive safety net.

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Want a European welfare state? Better go for European regressive taxes.

[Mr Ramsbotham]

Here’s a rhetorical question: If you were to successfully sue someone who had done you a grave, debilitating injury, and you had the option to be awarded everything the guy earned for the rest of his life, or, say, 40 percent of everything he earned for the rest of his life, and you really hated the bastard’s guts for what he had done to you, and wanted to cause the maximum pain possible, which option would you choose?

[Savage Beast]

The only real safety net is self-reliance.