Monday, December 27, 2010

Taxing the rich to solve the budget and other economic problems.

One article on taxing the rich, one article on what has happened when the rich were taxed, and one article on the blame for job losses show how the government is really the problem.

The first article states,
Two percent of the people in America control trillions of dollars and spend millions to get folks elected who will allow them to amass more.

Trickle-down economics never worked and it never will. Greed is a sickness, just like drug addiction and alcoholism.

This does make it sound like increasing the taxes on the rich is a good idea. However, consider this article which says,
Attempting to close its budget gap without doing what it should have done -- cut spending -- Oregon raised its "piggy-back" state income tax on the richest 2 percent of its residents last year.

As a result -- Nevada legislators, please note -- Oregon tax receipts are now ... falling. Receipts from the new tax fell from $180 million to $130 million in one year.

The article points out the the rich just either moved, moved their assets, or found other ways to avoid the tax.

Finally, the last article which says,
In her Dec. 14 letter, Joan Ivins blames our industry leaders’ greed for the loss of jobs to foreign countries. However, there is plenty of blame to go around to everyone, including:

1. Environmental laws have driven up costs of manufacturing and raw materials.

2. Safety requirements and training have increased costs and slowed production.

3. Foreign students are much more ambitious than ours, creating a superior workforce.

4. Foreign workers are willing to work harder and at a lesser wage.

5. Americans have come to expect a very high standard of living with little effort.

6. Unions have driven up wages and benefits without increasing production to a point when, combined with other factors, it is hard for manufacturers to compete.

The actual problem is government spending, taxing, regulating, and interfering in the economic process.


  1. Our government is out of control. We need to remove all laws that are not constitutional by returning to a strict interpretation of the Constitution.

    The size of government must be reduced.

  2. I agree. We must uphold our Constitution. We are a Republic which is governed by law. We are not a democracy which is governed by the rule of the majority.