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Milton J. Madison - An American Refugee Now Living in China, Where Liberty is Ascending

Federalism, Free Markets and the Liberty To Let One's Mind Wander. I Am Very Worried About the Fate of Liberty in the USA, Where Government is Taking people's Lives ____________________________________________________________________________________________ "Extremism in defense of liberty is no vice. Tolerance in the face of tyranny is no virtue." -Barry Goldwater-

Thursday, April 14, 2011

The stupidity of leftist 'tax the rich' strategy....

For a long time now, I have heard over-and-over that the solution to generating more revenue for the central government is to 'tax the rich.' It is typical socialist attitude parroted by most Democrats. There are several issues with this:
1. Who is rich?
2. How to tax them.
3. Can you actually achieve more revenue with this strategy?
4. They already pay most of the income taxes now.
5. By relying more-and-more on a narrow population of people to pay the bills, what if these people leave or the earning power goes to overseas people?
6. Isn't this just a lazy approach to taxes? By targeting just a small sliver of the American population, does this try to imply that most people will not have to suffer nor share in the pain for supposedly benefits to all?
This is just a lazy populist approach and will ultimately prove to be unsuccessful. A Democrats solution to every single problem is to 'tax the rich.' Good luck with that. You will only create more rish people in China and less rich people in the USAc

Obama outlines his deficit-reduction policy - Washington Times


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