Thursday, September 25, 2008

Patriotic Taxation

Been muddling over Biden's "Paying Taxes is Patriotic" theme... He says the rich should pay more...

But his logic would have the top 1% of tax payers THIRTY-FIVE TIMES more patriotic than the lower 40% of taxpayers... I don't think that's necessarily so...

I was also thinking about the affects on our society when 40% of all the people who are of working age pay NOTHING and in some cases get paid by the govt for making so little...

Surely that breeds a dependency on the politicians who promise more-more-more... It also breeds a complacency about the country, about elections, about the way got is run and about how the nation is working... after all... it costs nothing and occasionally is profitable to be poor.

Under Obama and Pelosi the number of people NOT paying taxes will rise to almost 50%... The top 5% will pay more-more-more and not change any habits or behavior... But if the top 5% is so smart, won't they opt out-? Start their own companies, pay themselves whatever is left over and build equity-? Won't they buy ever bigger houses to get the homeowner decduction... won't lots and lots of tax games get played that are tax avoidance driven vs profit driven-?

When 5% goes from paying 70% of all bills to paying 100%...won't those numbers shrink-? Even taxing the dead won't raise enough to pay even greater freebies for the bottom 50%...

Didn't LBJ try something like this in the '60s...and didn't it lead to ever higher inflation-?

I see some huge rounds of inflation coming if Obama-Pelosi get their way... We'll go broke feeling rich...

I remember reading a tale of Eskimo hunters coating a double edged knife blade with seal grease and freexing the handle in the ice. The wolves would come along and lick the blade. Every lick would bring more warm blood into their belly. And they would die feeling warm, full and happy...

Is that us-?

No comments: