I was never "rich" and I never will be.
I was only a "HENRY" that has learned that it no longer pays to work very hard in America.
A healthy adult can give 1 pint of blood every 8 weeks.
If the government ran the blood banks the same way they treat taxpayers, whenever the local blood supply was low, instead of recruiting new donors, they would just take 2, 3, or 4 pints from those foolish enough to “donate”.
Without class and corporate enemies, the democrat party would cease to exist.
Stalin had his Kulaks. Hussein has his HENRYs.
The first three or four words discounted the article.
If we were really interested in using taxation to mitigate inequality, it would make more sense to tax wealth than income.
Income is present economic activity, which we should try to maximize.
Wealth is the result of past economic activity, and often contributes little to the ongoing economy.
Our present system means it is easier to stay rich than to become rich, which seems a little backward.
There are a couple of separate problems in this article, both stemming from the same root cause ... living on more than you make. The government overspends, and thus rides high-earners really hard — making their lives harder. And then there’s this ...
>> Even then, I argued, the HENRYs were so squeezed between their big expenses for the things they considered staples — private schools and day care for the kids, for example — and an immense tax burden that typically took at $100,000 from a $350,000 income, that they not only weren’t rich, but stood little chance of ever saving the big nest egg to qualify as truly wealthy.
Taxes are only part of the problem here. Their lifestyle matches or exceeds their income. They spend every dollar they make on “staples” that aren’t really staples. People making $250K+ are make too much money to be broke at the end of every payperiod.
If you live like you make $150K, you’ll be surprised how rich you get making $250K. But, if you live like you make $250K or $350K ... you’ll die penniless.
Likewise, if the government spent less than they make, they’d be surprised how fast they could turn this thing around ... and how fast they could ease the burden on the citizens.
You cannot help the poor by destroying the rich. You cannot strengthen the weak by weakening the strong. You cannot bring about prosperity by discouraging thrift. You cannot lift the wage earner up by pulling the wage payer down. You cannot further t.he brotherhood of man by inciting class hatred. You cannot build character and courage by taking away people’s initiative and independence. Abe Lincoln
0 is doing the opposite.