What playing field do you want to play on?
Posted on Wednesday, July 11th 2012 at 05:09 pm
The president is proposing to retain the "Bush" tax cuts for everyone except the top 2%. The top 2% currently pay 33% of their income in federal taxes. The top 1% pay 35%. 80 percent of Americans pay 15% or less, 45% of Americans pay nothing at all. So when the President says that he wants them to pay their fair share of taxes, what is fair? I was always taught that meant an even playing field so that all of us would have equal opportunity to succeed. Used to be we applauded success, but that has given way to vilifying the successful. Unless of course you are an athlete, actor or artist. Our culture celebrates those that entertain us, but don't create any jobs. It is also important to note that the President is talking about taxing earned income, and doesn't touch the idle rich that live on trust funds, or capital gains (Warren Buffet). Punishing the rich does little to solve our deficit. This tax hike will supposedly raise $85 billion a year; our deficit is growing at more than $1,000 billion per year. What actually will happen is the deficit will grow larger and our debt increase as the "rich" decide it is not worth the reward to earn more and create more jobs. The productive "rich" people create jobs when they expand their businesses, invent new products or services. The realty is most people can't create jobs, (they can't create their own job). It is a gift, (like being able to run fast or play an instrument), to be an entrepreneur or business person. So most of us are dependent on someone to create their job, or they are dependent on the government. When Karl Marx wrote "from each according to his ability, to each according to his needs" his intention was that the government would assess your ability and needs and distribute accordingly. When the President and other political leaders talk about "redistributing wealth" they are taking a page out of Karl's playbook. That's not the playing field I want to play on.