It seems that I always read in the Daily Camera’s opinion page that what we all need to solve our economic problems is to cut our spending, tax the rich and corporation, CEO’s with corporate jets, hedge fund managers, and they should pay their fair share (redistribution of wealth – socialism), etc.
Before you make claims like that of pitting Rich against poor and middle class, who are the names of all the individuals you would love to tax?
Reality check: When a government invokes a increase in taxes on its citizens that you claim are rich these so called rich will move their assets somewhere else, if you are a high income earner they will personally move themselves to get away from paying higher taxes. Making statements that you would love to have the so-called rich pay their fair share with increased taxes and regulations, does not work and it never will.
Whenever you increase taxes you always will tax the middle and working poor – the W2 earner the very people you are trying to help, you will never ever be able to tax the rich. There is only one way to get them (the so called rich – who ever they might be or the corporation or CEO’s). If you create a flat consumption tax (no VAT Tax), and you have no deductions for any reason, and you eliminate all subsidies for farmers, oil companies, or whoever. This raises tax revenues fairly and does not pit the rich against the poor – the more you make the more you spend and more you pay in taxes. Guess what the more money you spend the more revenue for the US and State Treasuries.
Taxing the rich, corporations, and CEO’s with corporate Jets, hedge fund managers with today’s tax system will not solve this economic problem we are in – sorry about that it will only make matters much worse.
Ask yourself are you personally willing to really tax the rich? Then join me do your homework do your research, question what I am saying or anybody else, contact your congressional representatives federal, state, local. Tell your legislators you want a flat consumption tax (no VAT tax) no subsidies and no deductions of any sort, and you want a constitutional amendment for a balanced budget. Spread the word. Are you up to it?