So what you're saying is that President Obama should just give a bunch of money to the IRS because he has a bunch of money?
Originally Posted by Yssup Rider
I think his point is valid. Obama is the President. His public position is that "the rich should just give a bunch of money to the IRS because they have a bunch of money". That's pretty much the extent of his argument. He purportedly thinks that's the "right" thing to do. While he cannot force them to do so, as he quite openly would like to. Until he changes the law, there's nothing stopping HIM from doing it right now. So why doesn't he do the right thing?
Me...I think it's a ridiculous idea and a sham. While it stokes popular sentiment it completely fails to properly go after relatively small number of feaux capitalist corporate thieves who made vast wealth milking the system and providing little value, instead cozying up to the government (both parties). Instead it penalizes the much much larger majority of high earners and entrepreneurs who are really doing most of the really really useful, innovative and valuable things in this country, taking the risks and carrying quite a lot of dead weight on their backs already. Worse, the problem is spending not revenue. You could tax all income over $250K at 75% and (assuming such people would bother to work as much which they wouldn't) it wouldn't make a noticeable dent in the deficit...just look at the numbers. So yeah, I sure as hell won't be doing it.
I personally would LOVE to see a flat tax with a straight $10-15K per income earner deduction and absolutely nothing else. Tax it all...income, interest and realized capital gains...at 20% or so.
By the way Ysup and others of similar opinion, I would like to point out that the argument is not whether people who have EARNED (and visible exceptions notwithstanding, most well off people did earn it) more money should help those in need with some food assistance, educational assistance or whatever. Most better off people donate generously to helping people who need a leg up and in a world with less taxes would likely do moreso in my opinion...maybe even far more intelligently than the government. Or maybe they'd just blow more money on stupid fun shit, which in a capitalist system is called "creating jobs" (a term absurdly coopted by the government which obviously does no such thing) which is way better for the recipient's soul than charity.
The question is whether the government should forcibly take it from them and give it to such individuals. Maybe even more importantly; the question is whether individuals who are not willing or able to be useful enough to other people in any meaningful way so as to earn enough money to buy what they consider to be "the minimum" should be allowed to trade their votes in return for promises from politicians to take other's money and use it to buy stuff for them.