Tuesday, April 10, 2012

What's wrong with raising taxes on the rich......

Raising a sales tax? No problem. But income taxes are passed down to us, the consumer almost immediately.

If not the rich get unrich.

The confusion is I work for wages and the rich work for assets that show a profit and can't be touched by income taxes. Raise taxes on the profits and they raise their prices of goods and services to you and I. Or fire us.

Besides, every time the politicians tries to tax these assets the rich bribe someone to run against them and runs them out of town.

Only sales taxes can gather more up front from the wealthy but eventually they get the money back from you by raising your prices or cutting your wages.

You don't get rich by giving the government your money but by giving the government someone elses money.

And as far as budgets go we seem to be terrified of big numbers that mean nothing because we have had record breaking giant budget deficits that will "strangle" our economy since World War II and all that has happened is we are all eating like bandits, over educated, control the land, air,sea and space. Have health care for everybody (just show up at the emergency room, you'll see) virtually no involuntary homeless and starving and way too many fat people pontificating about budget deficits that mean NOTHING!

The Gullible Center - NYTimes.com
The Ryan cult was very much on display last week, after President Obama said the obvious: the latest Republican budget proposal, a proposal that Mitt Romney has avidly embraced, is a “Trojan horse” — that is, it is essentially a fraud. “Disguised as deficit reduction plans, it is really an attempt to impose a radical vision on our country.”

The reaction from many commentators was a howl of outrage. The president was being rude; he was being partisan; he was being a big meanie. Yet what he said about the Ryan proposal was completely accurate.

Actually, there are many problems with that proposal. But you can get the gist if you understand two numbers: $4.6 trillion and 14 million.

Of these, $4.6 trillion is the revenue cost over the next decade of the tax cuts embodied in the plan, as estimated by the nonpartisan Tax Policy Center. These cuts — which are, by the way, cuts over and above those involved in making the Bush tax cuts permanent — would disproportionately benefit the wealthy, with the average member of the top 1 percent receiving a tax break of $238,000 a year.

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