It is claimed that the 1% of the public that pays the most income taxes controls anywhere from 60 to 90% of the money in this country.
I ask, if the group that earns the most doesn't control what they make or own who should? Of course the liberal answer always comes back that there should be a more even distribution of wealth. That's where the government comes in. They redistribute the wealth. But who, what person, in government decides who gets what?
There are two sides to every argument.
I say, if 47% of the public does not pay any federal income taxes because they, presumably don't earn enough, then they should be incentivized by being asked to pay some token amount, perhaps 1% to 5%, amount in taxes. Imagine how that would go over in and election. This new incentive tax code might inspire them to reach the 35% tax level the very rich pay, and might even allow states to participate in the new found riches.
So I say, tax the poor and let them rise up and become something.
If Democrats keep espousing 'tax the rich' 'tax big business' and Republicans keep espousing tax breaks for those the pay taxes, who among the 47% are likely to vote Republican? All those that want something for nothing will vote Democrat because almost half of all the people in this country do not pay income taxes and they like it that way.
If Democrats espouse free health care and Republicans say we can't afford it who are the poor going to vote for?
The answers to all the above questions seem obvious to me but in a democratic society the majority rules, usually, and practical solutions to economic questions seldom get practical answers.
Another subject, as Diritives, Reit's, Shorts, Longs, Puts and Calls are all traded on stock markets around the world they all generate profits and loses and are subject to taxes like any other manufactured product. Be it buggy whips, ipods or mortgage bundles, the world is a competitive place and in it are products and services that are bought and sold at a ridiculous pace. Fifty years ago people would have had no idea of those products today. But they did know of the flawed governmental system we had then and what we have today is just as flawed. It's a system that tries to control wealth and those that earn it.
