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The Water Cooler
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Tax the Rich?
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<blockquote data-quote="CoronaBorealis" data-source="post: 4318086" data-attributes="member: 43847"><p>No, the video basically explained how when politicians say they’re going to tax the rich, what they end up doing is raising taxes on the highest income earners, not their actual target — billionaires. The video used Bezos as an example, where he is worth hundreds of billions but only has an annual income of 1.6 million, so you’re only taxing a fraction of his actual wealth. The video made the argument that the “highest income earners are not the rich”, because the super rich don’t have high incomes.</p><p></p><p>The tax the rich mantra is just a political slogan anyway, as most in Congress are wealthier than any of us ever will be and they’ll never tax themselves more. Saw something recently where Michele Obama in her DNC speech laments how her parents didn’t trust rich people, all the while Michelle and Barack own 5 homes and Michelle is wearing a $3,000 dress on stage.</p></blockquote><p></p>
[QUOTE="CoronaBorealis, post: 4318086, member: 43847"] No, the video basically explained how when politicians say they’re going to tax the rich, what they end up doing is raising taxes on the highest income earners, not their actual target — billionaires. The video used Bezos as an example, where he is worth hundreds of billions but only has an annual income of 1.6 million, so you’re only taxing a fraction of his actual wealth. The video made the argument that the “highest income earners are not the rich”, because the super rich don’t have high incomes. The tax the rich mantra is just a political slogan anyway, as most in Congress are wealthier than any of us ever will be and they’ll never tax themselves more. Saw something recently where Michele Obama in her DNC speech laments how her parents didn’t trust rich people, all the while Michelle and Barack own 5 homes and Michelle is wearing a $3,000 dress on stage. [/QUOTE]
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