8/22/11 More on the tax the rich debate

Now everything should be clear as mud. There was a lot left out of this O'Reilly discussion such as you can't compare the '50's and '60's because of the increased regulations since then, there were more tax shelters back then so what they were actually paying may not be different, etc. I still worry it could cause more harm than good like when they put a huge excise tax on yachts so people stopped buying them, putting those workers out of a job. Even if the liberals got their entire wish list and assuming that it wouldn't do more harm than good you aren't talking that much in the big scheme of things. See http://www.youtube.com/watch?v=L9pztMoDSsc. It's just the class warfare game. There are rich to demonize under every government. I've seen it in people from the PRC that I know. Then there are things like the $5 billion gold plated yacht in Malaysia, the fact that Moscow has more billionaires per capita than any other city, the richest person in the world if from Mexico, the rich in Pakistan, the rich Mexicans that own expensive weekend condos in Coronado, etc. You could write a book. I see it as the mental disease and class warfare game that liberals have. You can spin the numbers for eternity. I do believe in the laffer curve. I blamed my success in engineering courses on the fact that I considered what the problem would be from one extreme to the other then decide how it would vary between the two. As far as there being nothing else Obama could do, how about cutting spending as much as possible and riding it out? The average recession was 9 months. At least that way you wouldn't have a recovery with a lot of bills to pay sending you into another recession. Instead you be in a good financial position.

See the follow-up at http://www.youtube.com/watch?v=3cZm0IuKy6I

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• tax the rich
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