Re: Tax Cuts & Redistribution of Wealth
- From: "Paul M. Cook" <pmcook@xxxxxxx>
- Date: Sat, 8 Nov 2008 13:51:08 -0800
"alt.smokers.cigars" <dhannes@xxxxxxxxx> wrote in message
"Paul M. Cook" <pmcook@xxxxxxx> wrote in message
"btorvik2" <btorvik2@xxxxxxx> wrote in message
Ran across an interesting article in the paper yesterday on this
topic...the following are some excerpts from that article......discuss
Taxes: A Fair Share for Everyone
Jonah Goldberg.National Review
<snip of campaign discussions of tax cuts/redistribution>
All taxation redistributes wealth. The question is which direction is it
redistributed to and whose pocket does it come out of. When 1% of the
people own 90% of the wealth I'd say that is almost as succesful as
wealth redistribution can possibly get.
The proposed tax increase will be baed on income--future earnings--not on
what has accumulated (well, except for the estate tax, which, I believe,
was temporarily reduced but set to expire anyway).
The data I have always heard is that the wealthiest 1% has 50% of the
wealth...unfortunately, we can only tax their dividends from this.
And the tax rate on those dividends will remain at 15%. It's a sweet deal
and I have no idea what they are bitching about. Their increase will be
quite nominal. How many people making a million a year even get paid in W2
wages? I'd wager none if they were smart.
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