Stick It To The Rich?

I am so sick of hearing this nonsense about the rich paying their fair share of the federal income taxes.  The top 40 percent of taxpayers already pay ALL the income tax and the associated credits to lower income brackets.  The top 1% of earners, that are very rich indeed, wound up paying 69% of the total federal tax burden.  These are the statistics from the Congressional Budget Office.

Now I ask you, what is a “fair share”?  The Obama administration has been able to almost double the earned income tax rate on investment capital so that it matches other income tax levels, and I can support that.  But the fair share concept wants to go much further than that.  A great many of those not paying a lot of income tax in lower income tax brackets are actually receiving federal money…and quite a bit of it in some cases.  I don’t have a problem with the very wealthy having a heavier burden on paying taxes, but I do think there is a point when society gets so envious of the rich that they want to punish them and take all their earned wealth to give to those who don’t work to earn (and in many cases WON'T work to earn.)  It pretty much tells the story of human history if you look at it.  When there are lots of rich and lots of poor and no middle class, the poor rise up and annihilate the rich in war.  In America we are experiencing it in a political tax war rather than a physical fight, but it could easily turn to violence someday if we follow the historical model.  And a common end result of all that is a total collapse of society and a takeover by outside interests.  Think hard on that one for a while if you will.

What I really find funny is when they’ve done “ask the man on the street interviews” where they ask what you think a fair tax rate should be for the wealthy…the average person says 20% or thereabouts.  The truly rich pay a rate far more than that already…even the middle class earners do!

I'm no rich guy, but I sure do see something un-American and unethical is this idea of continuing to scalp the wealthy to pour into social programs and boondoggle waste that the federal government is so famous for doing.