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The Rich Need to Pay More… A lot More!

…And while we are at it, there needs to be more of them. Since we elected Barack Hussein Obama president, this government has been at war with business. They pledge to increase TAX PERCENTAGES so that “Millionaires and Billionaires can pay their fair share.” During the election, Obama agreed that an increase in the capital gains rate might net no gains at all, even perhaps less would be collected, but that he would do it anyway, as a matter of fairness. (He did not raise that rate. He didn’t have the votes, but the investment chilling message was sent anyway.)

Obamacare will put a tremendous unfunded mandate on employers, who have struck back by refusing to hire unless it was absolutely necessary, and who have withheld raises, reduced investment risk, and reduced quality of life issues to save for this upcoming disaster.

Little noticed by the mainstream media, our world has changed dramatically when businesses have to deal with bureaucracy. The level of regulations seem to be doubling every six months. Oil platforms in the Gulf cannot get the permits to reopen, and energy companies cannot get the permits to explore. Coal companies that have already received their permits seven years ago are having them taken away from them, and businesses are being told which states they are allowed to operate in. This takes as large a toll on business as taxes or Obamacare, but it takes the largest toll on small business. Carl Jr’s CEO Andrew Puzder told the California Chamber of Commerce that it takes 8 months to get a permit to build in California and the same permit takes six weeks in Texas. The additional cost is more than 250 thousand per store. Small businesses do not have that kind of additional startup capital, so the company does not open and the jobs are not created.

Need proof? Texas gained a million plus jobs in the last decade while California lost them. As Puzder said “You can’t build stores in California, you can’t manage them in California, and, even if you can build them, you have to pay a big tax. In Texas, you can build them and run them, and you don’t have to pay (income) tax.”

Still, the Democrats have a point. We will not get out of this crisis unless the rich pay more. It won’t due to pick around the edges, and a couple of percentage points won’t add anything to the coffers, as it will only serve to dampen the entrepreneurial spirit of our investors. A whole lot of percentage points will demolish what prosperity we still have, and in any case, we couldn’t balance this budget with this economy, even if we confiscated the total income of our “Millionaires and Billionaires”.

No, we will need to take a radical path, a path untried by our left leaning friends. We will need to help the wealthy create new wealth, so that they can pay more taxes.

The first step would be to get rid of the Orwellian notion that a Tax Percentage Increase raises taxes. Oh, sure it does, if the nominal sum is so small that an increase would go unnoticed, but in the world that we live in, an increase in tax rates would likely mean less money collected, not more. The tax increases that are proposed pretend that the economy will stay the same or even grow as we sap the lifeblood of every small businessman, and every company that contributes to the economy. That is a conclusion that lives somewhere between deceitful and dumb.

No, we will not be able to get the rich to pay more just by raising their tax rate. We cannot force them to be prosperous while we declare war on them. Instead we will need to entice them to pay the government more. We need to promise that their tax rate will either stay the same or DECREASE.

We need to repeal Obamacare. It only makes sense if we are completely oblivious to the damage it costs our economy on every single level.

We need to reduce or eliminate regulations that sap the strength of businesses and the will of investors.

Of course these businesses and investors will need help to get richer, and some ordinary people will need help just to get rich in the first place. If only we had 14 million people sitting on the sidelines, willing to help them, and get paid for it. Wait! We do. They will take the jobs that are being created and then these people collecting unemployment, will start paying taxes themselves, and Social Security, and Medicare too.

Stock brokers and fund managers will take advantage of a rising stock market, and they will pay much more in taxes. Indeed, many will pay three or four times what they pay now. C’mon, admit it. In Obama’s wildest dream he was never thinking about getting three or four times the money from fund managers as he is now. Let’s face it. That is real money.

All those 14 million newly minted workers will have new wants and needs as they move from hopelessness and destitution to prosperity. They will buy things. The sellers will make more money and Bingo! They will pay more taxes as well. Small businesses will have an environment where they will want to open their doors and they will be permitted to do so. Regular people will become wealthy. Wealthy people will become millionaires and millionaires will become billionaires! Better yet, They will ALL be paying more taxes, and happy to do so as well!

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COMMENTS

  • gregorysstewart

    Oh, yeah, “Only the government can…”

    Even just today Obama said “And I do not want, and I will not accept, a deal in which I am asked to do nothing, in fact, I

    • dajeeps

      As I’m far from being “rich”, although I did get slapped with the AMT in 2000. What I know about it is that my mother was pretty well off in the 80s and 90s, and that nearly every return filed for her had taxable income near the poverty line because of all the write-offs.

      Now, I’m not saying that govt is entitled to anything. In fact, I would rather see a much smaller, constitutionally limited govt that doesn’t cost so much with the States governing the rest within their juristictions. But it isn’t that way, and I’m pretty sure that we cannot surive as a country if we try to have it both ways – want big government and not want to pay for it as if it were small.

      And I also am not saying that the people here are addicted to big government. But someone is since we keep getting big spenders from both parties voted in and none of the solutions proposed so far returns usurped power back to the States so it can no longer spend hand over fist on anything it wants, hammer markets, and cause a whole bunch of economic mischief. Obama would have very little power at all if we only did that and people wouldn’t constantly be threateded with confiscation with nary any redress.

      • gregorysstewart

        If a loophole exists that does not help the economy, it should be closed.

        If a loophole exists that just helps the government pick winners and losers, it should be closed.

        Even if you are for no new taxes, that does not mean that you believe the tax system is perfect. On the other hand, Obama uses “tax loopholes” in a dishonest fashion, like he uses the word “investment”. When Obama was done, the tax loopholes he was talking about equaled one trillion dollars! They included the tax deduction for home mortgage. I wonder what that would do to home sales? What about construction?

        Yesterday Obama told the press that he was ready for tax reform, “I’m happy to work with you on tax reform that could potentially lower everybody’s rates and broaden the base, as long as that package was sufficiently progressive so that we weren

    • Sirithil

      …his hundreds of thousands of dollars, he is welcome, as is every American who feels the same way, to voluntarily pay additional tax. He can send his check to:

      Gifts to the United States
      U.S. Department of the Treasury
      Credit Accounting Branch
      3700 East-West Highway, Room 622D
      Hyattsville, MD 20782

  • YnotNOW

    And I don’t want to do it via crony-capitalist government handouts either. I would love to become rich by making things people want to buy, because they are worth the selling price with their hard-earned dollars. Then I would be glad to pay (a reasonable rate) more taxes!

  • gregorysstewart

    It was tried in 1930′s Italy. It was tried in Nazi Germany. It was tried in Franco’s Spain. The results were always terrible. When the government gets to pick the winners and losers the smart people find a different game to play.

    I noticed a new Orwellian word for Crony Capitalism in the New York Times last week. They called it “Managed Capitalism”. How nice: All the benefits of Capitalism, without the hassle of it being “unmanageable”.

  • Ned Reck

    Come next election… they best pay more attention.

    Ned Reck

  • izoneguy

    Since 1960
    Federal revenues have grown 20 fold.

    Since 1960
    Federal spending has grown 42 fold.

    Spending has grown over twice as fast.

    There is your problem.

  • carolina

    .