Quote:

You make some good points, however .. his reason on raising taxes is to pick up some of the debt burden, as I read it. Not for welfare.



It is extremely difficult to try to make points on a very complex subject like this without including disclaimer after disclaimer in an attempt to clarify what I'm trying to say. "Pick up some of the debt burden." It's been pointed out multiple times on the business networks that if you were to take every cent every rich person has for an entire year, the 1%, it would barely make a dent. Raising their taxes by a few percent means squat except for the very important psychological impact. If people feel they're getting screwed fairly or not they tend to turtle up and do nothing. Whether or not they can afford it is beside the point. When you and I look at our tax returns and see some thousands of dollars going to the IRS, we're not happy but not too worried about how they're spending the money either. But, when you're writing a check for taxes in the amount of say 10 mil even if you're worth 500 mil the thought crosses your mind "I wonder what they're really doing with this money." People like that actually write out and sign the check, "invisible witholdings" doesn't enter into it. If he thinks they're really just wasting it with frivolous spending programs he's not in the mood to give them more regardless of how much he has. The problem is systemic, built into the system of huge government spending and spending and more spending.

I knew it would come to this eventually if someone really wants to discuss this in detail. Start here:

http://www.american.com/archive/2011/august/obamasfollytaxingtherich

Then read the footnotes showing where the quotes came from, find out who these people are and read the links as well. It's deep, it's not easy and it will make your eyes glaze over. It's impossible to make these points without writing a detailed article like this one which is of course not possible in a simple forum like this.

Bob

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