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J. Clarke[_2_]

In article ,
says...

On 10/10/2011 7:52 PM, Winston_Smith wrote:
On Mon, 19 Sep 2011 13:14:39 -0700, "Steve B"
wrote:

Tax the rich. Tax the corporations. Take their wealth. Give it to the
little people. Make life fair.

Are these people so foolish to think these people and companies will not
relocate and I mean RIGHT NOW to third world countries to keep their wealth?

They will do that anyway. "Keeping" thier wealth is not as big an
issue to them as "increasing" their wealth. I'm sure most of us would
be able to manage the rest of our lives comfortably if we had no debts
and just a couple million in the bank. That is not what drives the
ultra-rich. They are driven by endless expansion as a goal in itself
long after any possible life needs are meet ten times over.

But there is a much stronger argument against the idea we can somehow
keep the party going by picking some deep pockets.

If were were to simply confiscate the wealth of anyone who is worth
more than $1 million dollars - not tax it, flat out take it and put
them out on the streets - it would run the federal governement for a
handful of months.

Then we would find ourselves with exactly the same problem we have now
and a few more folks in the soup line.

On the scale of federal budgets, the rich are not a big deal even if
we take them collectively and even if we wipe them out. The poor have
nothing to contribute.

The only way out is a federal spending level that is sustainable from
what taxes you can reasonably suck out of the middle class without
driving them to extinction.

--- Posted via news://freenews.netfront.net/ - Complaints to ---

while what you say is reasonably true, the real reason for taxing the
very rich very heavily has NOTHING to do with money to the government,
it has to do with preventing the striation of our society into "royalty"
with great wealth, and a lower class that foments revolution - when we
divide by income, the nation is weaker.

The trouble is that most such schemes don't do that, they just make it
harder to get rich.