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Today's Nuze

"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others."

Ayn Rand

Nobody's listening.

TAXING THE EVIL RICH

By
Neal Boortz
@ May 1, 2009 8:17 AM
Permalink | Comments (29) | TrackBacks (0)

I've told you about studies similar to this ... but here is a recent example of how people would rather see the government seize money from the rich than earn more money for themselves.

In Minnesota, the Star Tribune did a little poll. It found that two-thirds of people would want the government to seize wealth from rich people in order to help solve the state's budget woes. But then when it comes to raising taxes on everyone ... not just the filthy rich ... 60% of Minnesotans say absolutely not.

So taxing the rich is OK. Other taxes that are popular with Minnesotans are those on tobacco and alcoholic beverages. But they aren't done there ... 57% of people believe that corporations should pay higher taxes. Higher taxes? Are these people completely brain dead? Do they not understand the fact that the United States already has outrageously high corporate tax rates? Of course they don't; because you are talking about the government educated dumb masses. You are talking about people who believe that evil rich people and greedy corporations don't pay their "fair share" in taxes. And you're talking to people who are so uneducated and obtuse that they don't understand that all taxes paid by businesses filter down to the people who ultimately purchase whatever that business is producing at the retail level.

I'll say it again: At the core of most, if not all, of the problems facing our country today you will find a public that is so uneducated that they just can't understand basic concepts of governance and economics. Government schools were designed to create a populace that was educated just to the point that they would be good government subjects and good employees. Government education has been a massive success.

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What others are saying

  • Typical voter: "Congress might as well pay, because..."
    I'm a few days late with this (sorry, Neal, I don't spend three hours a day with ANYONE), but what's scary isn't this guy himself (as bad as his misconceptions are), but the fact that he's NOT unusual - read the caption:
    http://elborak.blogspot.com/2008/06/should-congress-fund-npr.html
  • Heavily depressed
    I want to be a doctor...and doctors happen to fit into the category of the "evil rich" who make $250,000 and up per year. Forget that they went to over 20 years of school and incurred a cost of about $160,000 debt for medical school (all in order to HELP PEOPLE)...nope, they're just evil stinking rich, just like those evil CEO's.

    Also, we should forget that they provide all the jobs in this country, and that the prices of what we buy are affected by the taxes they endure. Forget it all. Tax them. Tax them to death.
  • And your suprised at this?
    It makes perfect sence that most of those polled in the Peoples Republich of Minnesoooota would give a NIMBY responce to being taxed them selves and show their real Democratic roots of 'HEY- its ok to spend other people's money".. Go figure....
  • Chuck & Ivan
    Thanks Chuck! I am in accounting, so I guess the numbers game comes naturally. If I stop and don't get emotional I occasionally get one right.

    Ivan I was SO hoping you would post today. De was discussing this same thing in another thread, thanks!!! I looked up that Rex84 btw. Sh*t!!!
  • Rob's Tax Flaw
    It’s basic economics, Rob. The corporation raises the price of goods or services to cover the increased tax. As price increases, consumer demand decreases, and fewer units are sold. Fewer sales means lower profits and a decrease in market share. The opposite of any corporation’s goal.
    The increased cost (tax) is passed on to the consumer, but the corporation still loses.
  • Remember what I said about those stress tests?
    Some of you might remember me saying that the bank stress tests are gonna be REALLY REALLY bad and there were appeals flying left and right trying to cushion the blow. Well I dunno what happened exactly, but somehow they got them pushed back. All this does is buy these institutions time to buy off whomever they need to in order to downplay the results. They are so damn worried about the reaction to these stress tests. Whew. Anyways here is a news story...

    http://www.foxnews.com/politics/2009/05/01/bank-test-results-said-come-thursday/
  • Joyce M. is my hero!
    Right you are, Joyce. If a company is well run to begin with, there isn't much waste to deal with and the company is better suited to withstand tough times. If a large number of people had to be laid off, why were they around to begin with. In a weak economy, there could still be cuts in labor and management because the market has shrunken. Overstaffing and overpaying are hallmarks of companies that lost sight of how important efficieny is and how to staff for lean operations. GM, Chrysler, weren't profitable when things were good. Don't bother explaining that to Liberals, business and economics take a backseat to 'fairness' and 'making the corporations pay their fair share'. They're just not wired for logic and reasoning. But Joyce, she gets it. Good job!
  • I commented in there
    yesterday (Unfortunately the ST is my local paper, but I'm not renewing my subscription come due this month)taking on some leftist kooks and this clown named "cynical 1" actually said high taxes on the rich are fair since food costs the poor more than the rich as a proportion of their income! Can you believe that?? Liberty is dead, tyranny is coming...And I'm glad the low-life Obama supporters will be the ones to suffer the most.
  • Stealing is wrong, regardless of who you steal from or why.
    Hang 'em, sure (good luck, we rarely do that with murdereres), but spare us the pathetic excuse for thieving of your own. That's like punishing everyone who has sex along with those who commit rape.

    I do notice if you're a crook in with the dp, you've a much better chance of getting away with it. The guilty parties in the mortgage mess are off doing the same for other companies now, for the same big bucks. The politicians who enabled, defended, and protected it were rewarded with a fillibuster-proof majority, and now run the show.

    Those who shut down scams like enron(a taste of what cap and trade will be like) and global crossing, were successfully blamed for them, so expect more of that sort of thing.
  • Causes of Poverty
    I think I first saw this in an article by Thomas Sowell or maybe Walter Williams.

    The Parable of Ivan and Boris

    Ivan and Boris were two dirt poor Russian peasants. There was only one difference Ivan had a goat from which he derived a small amount of milk to help feed himself and his family. One day Boris spied an old lamp as he walked down a dusty dirt road. He picked it up and rubbed some of the grime off of it to see if it might have some value. Smoke began coming out of the lamp, there was a flash and suddenly a genie appeared. The genie said “You have freed me from the prison of this lamp. I will grant you one wish. It can be anything you want.” Boris thought for only a second and said “I want Ivan’s goat to die”.

    This is the basic mindset that produces a third world country.
  • Taxes
    I think everyong should pay their fair share of taxes. I don't care if the evil rich have to pay 60% of their income to the federal government as long as everyone pays 60%. That's fair. Let everyone cough up a substantial protion of their income for a couple of years and Washington will change via the voting booth. We don't force Tiger Woods to play with one arm tied behind his back just because he worked harder than every other tour player growing up. We shouldn't force people to pay a higher percentage than other people just because they worked harder and smarter growing up. Fair is Fair.
  • corporate taxes
    rob, you're logic is flawed. let's say corporation A is in the US and must charge $10.00 for a widget (tech term!). corporation B can make that same widget overseas and charge $5.00 because it does not have to pay all the taxes (plus labor, and all the labor and environmental regulations in the US), which widget would you buy? hint: do you shop at Walmart? simplified, but you get the idea.
  • Corporate Taxes
    Are passed down but can still make it difficult to compete with companies in countries WITHOUT these taxes. If there are no taxes to pass down, then your base price is extremely attractive especially for export.
  • you should all read this
    http://exiledonline.com/class-war-101-meet-the-reptiles-who-are-making-meat-out-of-you/
  • Splainin the pain
    Raising taxes on large corporations will result in a higher priced widget. Companies have to make money to sell stock. As long as there is free trade with countries like China, who owns a huge part of America's debt and we would'nt want to anger, the big corporations will be placed in a competitive disadvantage, reducing the number of employees. No use paying a employee if they are just standing around.
    If tarrifs are placed on Chinese imports, American widgets will cost more, diminishing the American quality of life and possibly reducing the number of widgets produced, diminishing the number of employees at the widget company.
    Raising taxes on large corporations is about as stupid as it gets.
  • Rob
    sssshhhhhhh!

    be quiet! don't do that! if you mention that it will take away their "wealth envy" schtick.
  • cutting jobs
    If you could cut 11,000 and still operate the business then you probably hired too many to start with. A company needs to be trim so it survives to keep the remaining employees from losing their jobs.

    The only time it's really wrong is when they are not honest about it. Using other excuses to cut people. Most large businesses are self-insured when it comes to their group health insurance. So when they need to trim the ranks, they look for employees that have used the health program the most (i.e. cost the company the most money). If those cases can be proved then yeah they need to be sued.
  • Greg
    Okay, so let's pass a law: If you make $100 million dollars by laying off 11,000+ people, you are guilty and will be sentenced accordingly.

    Is that what you seek? Sounds pretty arbitrary.

    i like it. :)

    its as arbitrary as the federal standards about cocaine. if your white and your caught with a ounce of coke, you are sentenced to maybe 5 years. if your black and your caught with a ounce of crack, you are sentenced to maybe 50 years.
    just because its arbitrary, doesn't mean its bad

    its better than doing nothing at all
  • Consumer Taxes
    "trickle-down taxes" (resulting from higher corporate taxes), ultimately paid by the consumer ... very similiar to the FairTax, same result, the people who consume more will pay more. When people buy into Obama's "pledge" to not raise taxes on 95% of the population, they forget about these hidden-taxes. Try not to consume ... good luck.
  • Corporate Taxes
    I found a logical flaw. Neal argues that corporations flee the U.S. due to the corporate tax burden, then in the same breath takes pains to explain that all taxes paid by corporations are ultimately paid by the consumer in form of higher prices. Now how can the corporate tax burden be too high if it's the consumer, not the corporation, paying the taxes? 'Splain that one!
  • Whatever happened to Enron?
    "well, if you got $100 million by costing 11,000 their jobs, i would call that bad rich. wouldn't you? and if not, why?"

    Okay, so let's pass a law: If you make $100 million dollars by laying off 11,000+ people, you are guilty and will be sentenced accordingly.

    Is that what you seek? Sounds pretty arbitrary. What about those who made $90 million? What about $10 million? What about $100 thousand? What is the "fair" limit? The truth: there is no way to pick the "right" amount without getting subjective.

    Say...whatever happened to Enron? They called the Bush administration, seeking a bailout, and Bush said no.

    Later, they bankrupted, and everything got into the press. The free market dumped them faster than any SEC regulator or TARP bailout could. Many people lost, but that was only those who had invested EVERYTHING in an Enron stock fund. You can believe I don't do that.

    And the benefit? A bad company using wicked practices died properly, and we aren't still pumping it with life saving bailout money, nor talking about Obama "taking over" or "firing the CEO" of Enron. THAT is how bad companies are dealt with.
  • Corporate Taxes
    To Minnesotans on raising corporate taxes...exactly who do you think pays those taxes, the corporations? Where do you think they get the money to pay those taxes?

    Here's a clue...the consumer pays those taxes. Politicians love corporate taxes because it deflects the blame from the politician to the corporation, but don't think for a minute that you, the consumer, is not paying those taxes.

    Here is a simple principle to remember when consider any tax. The only entity that EVER pays a tax is the individual. I don't care what kind of tax it is, you, the individual is the ultimate source of the money to pay ALL taxes.

    Wise up, and get off the wealth envy back wagon...it's going to drive you right over the abyss.

    Paul
  • priorities
    well, if you got $100 million by costing 11,000 their jobs, i would call that bad rich. wouldn't you? and if not, why?

    these kind of evil rich people, who don't produce anything, are destroying capitalism as we know it.

    i don't know what to do. but i don't think that they ought to get away with it.

    my priorities are punishing people who do other people harm. what are your priorities?
  • Note to any state officials
    I can fix your state in a few easy steps and in just 5 years. Here's how:

    1. Stop overspending. You are in a depression, spend like that. It's tough and an unloved job, but do what's right- cut programs, reduce the length of welfare programs and redirect those funds to rebuilding your state and promoting competitive, private sector jobs to do the work. Cut staff, cut state cars, go to essential operations only.
    2. Provide incentives for businesses to start in your state, including manufacturing. That is, reduce taxes to encourage businesses to relocate to your state. Buck the trend that businesses have big money go be taxed. Just get them into your state and you win with more income taxes, job stability, etc. The money will come, just make them want to come.
    3. Don't revise your state's laws when the people make their positions clear- IE- California on Gay Marraige. SF changed the law, overturned. Created a state referendum, voted down. Now trying to change the laws just because they want to. Not a good policy, avoid this.
    4. Don't create wealth envy or become a sanctuary state. Easy enough, don't politicize prosperity and don't create an environment that supports discrimination against motivated people. They have money and can move away if they don't see a value in staying (IE- Wealth exodus from NYC). They don't mind paying higher taxes, just don't expect them to pay everyone else's taxes too.
  • There's good and bad everywhere
    Of course there's bad people at the top of the economic food chain. There's bad people in the middle and bottom of it, too, just as there are bad people in government (many of whom are in charge now). tshirt-doctor, why don't you tell me how we can tell the difference between the good and bad rich? Odds are that you probably can't. Do you think an actor is worth $20 million for six weeks work on a movie? Do you really think a baseball player who can't hit half the balls thrown to him is worth $267 million over ten years? Yet you want to penalize people who work all year and get paid for their expertise and abilities, many of whom are worth it?

    Get your priorities straight please.
  • eat the rich
    you have normal rich people, who have done well, and those evil rich people who have done well, by costing the citizens their jobs.

    what are you going to do about the bad people at the top of our economic food chain? what would you do about those who got $100 million payout for 19 months by laying off 11,200 workers? and that's only one of those.

    its either tax them, or hang them.
  • TAXING THE EVIL RICH MINNESOTA STYLE!
    Is this not the state that voted for al franken for their Senator? NEED I SAY MORE!!!!!!!!!!!!!!!!
  • Al Franken
    This is the state that elected Al Franken to the SENATE. Also, they choose to live in a state where it is brutually cold. No wonder their brains froze.
  • last question
    When they take these polls the last question should be about where their jobs come from.
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