Thursday, May 28, 2009

Why the rich should be taxed at 1,000%

First off, I should mention that I'm neither a socialist or a communist. And actually had a grandfather who was a card carrying conservative. As a youngster I was mildly attracted to libertarianism but after subscribing to individualist anarchism pretty much lost interest in anything relating to politics.

And I should mention that I own a copy of Ludwig Von Mises' HUMAN ACTION, and I actually sat down and read the entire bloody 900 pages. Anyway, I'm fairly certain that's hardly true of virtually everybody who quotes Von Miser.

But then I'm neither a believer in FINANCE CRAPITALISM or an apologist for the factory system. If you want a refutation of the myths of industrial progress and innane anti-human theories of the 'division of labor' and 'economies of mass production', read Ralph Borsodi's THIS UGLY CIVILIZATION.

To put it in perspective, during Von Mises time there wasn't any understanding of pollution and there seemed unlimited resources to exploit for the taking. And secondly, Von Mises didn't quite come out and call people assholes and lemmings, nor did he think capitalism was a particuarly good system (ah! the heresies...). But the gist is, that the State and any type of centralized decision making was the worst system and was a disaster just waiting to happen.

So the TAX THE RICH @ 1,000% proposal, isn't some socialist soak the rich fantasy. It's really basically a sound financial proposition and good business.... The problem being is that politicians seem to solve every problem, real or imaginary, by spending money. In fact, the Leadership of this "greatest and freest country" found so many problems to solve, that as of 2006 every individual owed $250,000 each as their share of the existing government debt, and thats not even including the the future liabilities of social insecurity and medifraud programs.

Now if per capita individual income (not household income) is $25,000 a year and they owe 10 times that as their share of government debt. I think it's only fitting that the rich pay 10 times their income in taxes, at least until the debt is paid off.

Of course, We all know that's not going to happen, because let's face it: who owns amerika and who owns the politicians ?

So to make economic history simple and in one sentence: eventually all governments start spending more than they can tax, and then after a crack up boom comes the inevitable: the Leadership tries to paper their way out of a hole...

Raising the cigarette tax 80 cents isn't going to raise the quadrillions needed. I doubt even a 1,000% income tax for the rich would be enough. But that's the point.

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