http://www.bloomberg.com/apps/news?pid=20601039&sid=aMN8U14Ha8Mk&refer=home If the government is truly interested in maximizing its revenue, not in redistributing income, it should cut taxes on the rich. Blasphemy, I know.
1) Government should minimize its size. 2) Have you ever met anybody who bragged about moving from California to Tennessee for tax reasons?
1) Couldn't agree more. 2) During the housing bubble you would be surprised how many people I know who moved from suburban San Fran to the mid west when they started to have children. I see the same exodus from Boston to places like NC and FL not necessarily because of taxs per se but because of general cost of living differences. Richer friends who are not tied to a US based income are also moving to places like Costa Rica and Chile.
It's all about the "Millionares Next Door". It's an older book about two couples that make the same income, get the same promotions and have the same starting net worth, but how one couple keeps upgrading things like apartment, car, clothes, etc., and the other doesn't. The millionares end up being the couple that has a meager house and car, doesn't spend much on clothes and fancy jewelry and lives in an inexpensive area, while their friends can barely make ends meet and wonder why.
Nods. I wish people in Cali would wake up and get the fuck out. It would set an example to other states that increasing taxes will ruin the economy in the long run.
Obama, the marxist and other liberal redistribution gurus have made it blatantly clear, that they don't care about maximizing revenue. They care about "FAIRNESS". This is marxist codespeak for wealth envy & redistribution of money. The day that Obama and his sidekick Pelosi announce the plan to confiscate 15 - 20 % of everyone's 401(k)'s and IRA's in the name of "FAIRNESS" it will become painfully real in the hearts of even the most diehard Obama fans, that have worked their enitire life to save for their retirement.
No it shouldn't cut taxes on the rich, they've been doing that for the last 30 years. Why? Because then productivity is taxed, and who is productive? It's the middle class. Anyone going in at 9 am and leaving at 5 hard to believe but they are productive, they are the economy. The trillions in assets of the rich slothing around the global financial system, that's not productive in the least. Tax them, tell them to put their money to work in productive uses or it's gone, that's how a normal country is supposed to work. Honestly who cares about 1 stupid article about tax evation? That's not an impossible challenge, but tax evation is sanctioned by the american government too, I mean look at Geithner.
Only the middle class is productive? Assets are not productive? Make them take their assets and put it to a productive use or tax their assets? Adolf Hitler said that capital gains are "effortless income", hence his 100% tax on gains above a certain amount. Now I see where Renegen is coming from. The most efficient, productive use of assets are determined by individuals deciding for themselves how their property is to be used. More people benefit that way. The economy benefits. No one benefits when assets are hidden.