One is forever hearing that the "rich" should pay their "fair share" but that fair share is always and ever more than they are paying now regardless of the current marginal top rate or what economic conditions happen to be. Redistributionists seem to think that the rich are a bunch of Scrooge McDucks who daily retire to their counting rooms to wade about hip deep in gold coins and precious gems while cackling diabolically. Completely lost on the 99 Percenters is the fact that what jobs do exist are in significant part because of the rich investing in companies who can then afford to offer those jobs. It is not in any rich person's interest, period, that unemployment be high as that will only inevitably make them less rich over time. It is also not the rich's problem that some have laid out a couple hundred K to graduate college with a degree/s that is stupefyingly useless to the real economy as so very many of them are. One might accuse the rich of making plenty of mistakes and subsequently bollixing the financial sector but to accuse them of wanting there to be millions of jobless people is a complete absurdity.
If the Occupiers were so concerned about the rich they should be encouraging them to spend as much of their allegedly ill-gotten gains as possible on mountains of stuff that would have to be made by, oh let me see, people with jobs. Say what you will about the robber barons of the nineteeth century they did manage to directly employ many tens of thousands of artisans, craftsmen, and skilled workers to build and maintain their conspicuously consumptive home/palaces. expensive cars, jewelry, etc. etc. etc. Maybe the current cadre of folks designated, by sundry metrics as rich, has too little stuff instead of too much.
Cities and towns could actually be licking their lips over the possiblility of increasing top marginal tax rates. A favored strategy when taxes increase is for big investors to move money into tax free municipal bonds which although it might make the cities happier the return to the Feds could, and usually does, decrease.
If the Occupiers were so concerned about the rich they should be encouraging them to spend as much of their allegedly ill-gotten gains as possible on mountains of stuff that would have to be made by, oh let me see, people with jobs. Say what you will about the robber barons of the nineteeth century they did manage to directly employ many tens of thousands of artisans, craftsmen, and skilled workers to build and maintain their conspicuously consumptive home/palaces. expensive cars, jewelry, etc. etc. etc. Maybe the current cadre of folks designated, by sundry metrics as rich, has too little stuff instead of too much.
Cities and towns could actually be licking their lips over the possiblility of increasing top marginal tax rates. A favored strategy when taxes increase is for big investors to move money into tax free municipal bonds which although it might make the cities happier the return to the Feds could, and usually does, decrease.
Comment