A Message To The Economically Duped
But first a bit of history to show what nonsense this tax the rich stuff is and how it will come back to bite everyone in the ass in the future. How? Well, back in the 1970's before I understood how the Federal Reserve Bank controlled the value of the dollar using inflation mostly but intermingled with periods of strategic banker deflation, if you'd have told me that one day I'd live in a household that earned over one hundred thousand dollars per year I'd would have said I would be rich! Of course at the time I was clearing $84...every two weeks.
Being blessed to stumble across some smart people back then who explained fractional debt based money creation, I watched over the next 40 years as the Federal Reserve created more and more money which they doled out to their friends. Sure enough prices went up up up while salaries just went up for a while then up up followed by down then follow by our current down down employment situation. In my household we're one of the still luckier ones with around 100K household income. But we're certainly not rich and don't have much disposable income after taxes and bills. Why?
Because back in the 1970's when 100K per year was a rich person's salary it was decided by the Congress that the rich should pay their fair share. Naturally the rich got a lot of backdoor deductions that shielded them from actually paying the higher tax rates. Sadly the Fed inflated the supply of dollars over the next few decades driving up prices and wages until wah lah! Now families earning 100k per year are taxed like the rich in 1970 even though 100K damn sure won't buy what it would 40 years ago.
So if you are demanding taxes to be raised on the rich you are an idiot demanding to have your own taxes raised in the next ten years as your income rises to keep pace with the inflated prices. I know a better way to make the richest of the rich pay their fair share and it has zero to do with anybody's income. Stop the class warfare crap before you get us all killed or sent to the poor house.