Sunday, August 16, 2015

On the Belief by Bernie Sanders and Others that a Doubling of the Top Tax Rate Will Inexorably Lead to a Doubling of Revenue

It's so stupid. I mean, do they actually think that people don't change their behavior (work/invest less, move, seek out tax shelters, etc.) in response to things as personal as taxes? And I ask you; IRS brain-diseased, chowder-eating buffoons versus really smart and nimble rich people with the finest lawyers that money can buy - who do you put your money on? Me, I'm leaning toward the latter.


dmarks said...

More importantly, this tax would dry up investment and cost jobs.

This is definitely a proposal to tilt the balance of power more away from the ruled and toward the ruling class.

I wouldn't blame anyone who legally moved assets offshore or changed them into a form less likely to be stolen in order to avoid this.

My view isn't pro plutocrat: the rich already pay the lion's - share of taxes... much more than the non rich. I am fine with that ( if i were pro rich, I would want their tax burden lower than everyone else's instead).

Such a proposal to significantly increase the already heavy tax burden is a greedy blast of arrogance: to steal from people just for the hell of it. It only appeals to the immoral who give in to the sins of greed and envy.

Will "take no prisoners" Hart said...

Remember what happened to Sweden in the late '70s and early '80s? Bjorn Borg, Ingemar Bergman, ABBA, and loads of other rich people moved out all-together and revenues went down. Sanders is apparently clueless on this stuff.