Lots of folks spouting Comrade Obama's line...
"Tax the rich. Spread that income around."
And you know what, on the surface that doesn't sound so bad...
Until you start using your brain a little.
I've blogged before about basic Sociology and Psychology.
No one refuted my comments then, they just ignored them and repeated the Socialist Party line...
"Stick it to the rich guy. He got that money through greed anyway."
As I see it, there are three problems with that thinking:
1. You are still rewarding poor behavior, and therefore will get more of it.
2. Obama's plan to soak the rich by increasing Capital Gains taxes, while eliciting a "go get those fat cats, Tiger", from the low-IQ crowd, will work negatively in another arena he hopes to improve- Job creation.
If I'm a "fat cat" and you increase my cost of doing business, I'm either gonna slash my costs, maybe by laying off employees, or pass those costs off to taxpayers and consumers as an expense-
the cost of doing business. Or alternatively I'll move my production facility offshore to avoid those costs altogether. Fat Cat won't pay them at all...
The consumer, and frequently the POOR consumer, will suffer most.
3. And back to Capital Gains tax increases-
Think this will only hurt the upper 5%?
Think because you aren't as rich as "Joe the Plumber" you don't pay Captital Gains taxes?
WRONG AGAIN BUNKY!
You own stocks, right?
Like me, you have stock in BIG OL' TERRIBLE OIL, right?
Are you sure?
Got an IRA?
Got a 401k or 403b or any other retirement plan?
Own a mutual fund?
If you answered yes to any of those questions, you probably own oil stocks.
You also pay Capital Gains taxes, either personally or as an expense of the plan.
Barack Obama wants to give you a tax increase.
Where's he coming up with this "95% won't pay more in taxes" lie?
Why aren't the masses catching on to the impossibility of what he's promising?