AlterNet: Why Are We Afraid to Tax the Super-Rich?

[marmar]

AlterNet / By Les Leopold

Why Are We Afraid to Tax the Super-Rich?
We are told that we’re already living well beyond our means we’ve got to cut back on government programs at all levels. Meanwhile, the super-rich are still having a ball.

March 12, 2010 |


Our nation is already deeply in debt. How can we possibly afford to invest in our infrastructure, renewable energy, health care, our schools — and create the millions of jobs that our unemployed desperately need?

We are told that we’re already living well beyond our means — that entitlement programs like Medicare and Social Security will bankrupt us. Forget the solar panels, the smaller classes and the new jobs — we’ve got to cut back on government programs at all levels.

Meanwhile, the super-rich are still having a ball. In his annual shareholder letter, mega-investor Warren Buffett wrote, “We’ve put a lot of money to work during the chaos of the last two years. When it’s raining gold, reach for a bucket, not a thimble.” And Forbes Magazine adds, “Many plutocrats did just that. Indeed, last year’s wealth wasteland has become a billionaire bonanza. Most of the richest people on the planet have seen their fortunes soar in the past year.”

Which brings us back to the federal budget. There are two sides to every ledger: the expenses…and the income. We need to start looking at the income side. With a fairer tax system, we could retrieve some of that money downpour that the elite has been siphoning away from us for decades. ..........(more)

The complete piece is at: http://www.alternet.org/rights/146020/why_are_we_afraid_to_tax_the_super-rich

[Fumesucker]

1. Because the super rich own our politicians..

Some things really are that simple..

[LiberalLoner]

2. You are right. Unfortunately. No hope for our country short of warfare.

[stray cat]

3. redistribution is great as long as you don't get classified as rich

There is fear - I think unfounded - that if you make 60,000 per year you should pay higher taxes than you do now to cover those who make less. However, 60,000 is superrich compared to homeless.

[Fumesucker]

5. The "L" curve..

http://www.lcurve.org/

The US population is represented along the length of the football field, arranged in order of income.

Median US family income (the family at the 50 yard line) is ~$40,000 (a stack of $100 bills 1.6 inches high.)

--The family on the 95 yard line earns about $100,000 per year, a stack of $100 bills about 4 inches high.

--At the 99 yard line the income is about $300,000, a stack of $100 bills about a foot high.

--The curve reaches $1 million (a 40 inch high stack of $100 bills) one foot from the goal line.

--From there it keeps going up...it goes up 50 km (~30 miles) on this scale!

[anonymous171]

11. That's why we need to frame it as taxing "the Bankers" or something

Make it very easy to tell who is going to get the tax increase and who isn't.

[midnight]

4. For the rich they are in essence living off a wonderful entitlement program

via not paying their fair share.

[onehandle]

6. On the off chance, we'll become rich. Seriously. They've done surveys. nt

[Lydia Leftcoast]

8. Right, too many people believe that myth that

"anyone who works hard" can get rich.

[GreenPartyVoter]

9. Yep

[Divine Discontent]

12. sooooo true!

It is pretty much across all lines of religion, sex, etc, saw it with people with Cuban heritage here in S. FL. supporting GOP despite most non-white voters supporting Democrats a few elections ago, and it goes into the premise they, and a lot of people in general think they'll be rich someday, when all they're doing is hoping for something that won't ever come, but thinking, if they believe it (The Secret) it will come to them, that it is their right if they work hard, so why tax the rich when you want to be one of them.

Thankfully there's enough of us who understand to whom much is given, must is expected.

[Divine Discontent]

13. sooooo true!

It is pretty much across all lines of religion, sex, etc, saw it with people with Cuban heritage here in S. FL. supporting GOP despite most non-white voters supporting Democrats a few elections ago, and it goes into the premise they, and a lot of people in general think they'll be rich someday, when all they're doing is hoping for something that won't ever come, but thinking, if they believe it (The Secret) it will come to them, that it is their right if they work hard, so why tax the rich when you want to be one of them.

Thankfully there's enough of us who understand to whom much is given, must is expected.

[blindpig]

7. Mebbe because they own the government,

lock, stock & barrel. There will be no 'fairer' tax system as long as hat remains the case.

[johnlucas]

10. Everything in the universe can be explained by Might Makes Right

They have the financial & political might so regardless of the truth of the matter for all intents & purposes what they do will be considered right.

If we have a problem with that, then what we need to do is to exercise OUR might to counter theirs. But we won't do it because we don't know how to get on the same page about anything & prefer to get all emotional instead of strategic. Plus any unity we DO muster won't stand for long.

None of this corruption could go on if we stood together to deny it. Our Might is a Collective one. Elite by definition means Few. So what's the holdup with the natural conclusion? Divide & Conquer is your starting point.
John Lucas

[Last_Stand]

14. Keep the serfs separated...

along political, racial, religious, and economic lines.

While the serfs are busy tearing out each other's throats, the masters cash in and sleep peacefully.

[upi402]

15. Another America hater

kidding...
:fistbump:
k/r

[New Dawn]

16. K&R