Saturday, April 07, 2012

Redistributionists, Beware the Taxing Power of the Federal Government

Here's what we learn in the Wall Street Journal:
While income distribution has become a source of protest and political debate, any analysis of taxes paid in high tax-and-spend countries shows that the U.S. has the most progressive income tax system in the world. An inconvenient truth for the advocates of higher taxes on America's rich is that big governments in developed countries are funded not by taxing the rich more than the U.S. does, but by taxing everybody else more.
You could take all of Gates' and Buffet's and Zuckerberg's wealth (as opposed to merely taxing their income) and not put a dent in our debt. We've got to stop spending so much.

2 comments:

allen (in Michigan) said...

The money's nice but the real goal is inciting greed so that lefties can access power. Ostensibly to pay off those who voted for them but the real payoff's political power.

Just like Chavez did in Venezuela - bribe poor people to vote for you using other people's money.

Tulip said...

It is really scary how much we owe, and to whom we owe it is another nightmare just waiting to wake us up from our complacency.