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Tax The Rich?
The richest people, are generally the smartest people, and are those who generally work for themselves. I have long had the opinion, that working for someone else will never make you rich, except in rare occasions. So, the super rich have huge mansions, take glamorous trips to ski slopes, travel around the world, have servants, and such tings. They usually have businesses too, which made them rich. Those businesses have employees. Both the employees and employer pay taxes. The smart super rich usually get bored, and want a new challenge. Smart people are not couch potatoes. Their minds are always busy, thinking of new projects, inventions, businesses, or things to do with their assets. Virtually all of America's inventions, which are most of the world's inventions it seems, came from smart people, who probably got rich from them. People who start businesses which work, (85% of businesses fail in the first year), may get rich too. Smart people will not let their money sit in a bank! They want to let their money build a new restaurant, improve the invention, or do something which challenges their mind. Rich, smart people, never allow their money to sit idle. They may start a foundation which helps others, subsidizes the arts, or education, but rich people's dollars never sit idle. They are always used for something, and no matter what they are used for, they generate JOBS! Any money spent by anyone at any level, creates JOBS, and obviously, the rich spend more than the poor, so they create more JOBS. Those mansions, yachts, and private railroad cars, took lots of labor and artisans to build, and maintain, which are JOBS. Those foundations, the patent office, advertising media, restaurant suppliers, builders, foundation administrators, or dog groomers, are JOBS. Everything a rich person may do with their money, creates JOBS of some kind. I went to school with Bill Marriott at Sidwell Friends in Washington D.C. The Marriotts started out with an A & W Root Beer stand at 14th and Park Road In Washington D.C., and Willard Marriott was a smart man. The root beer stand worked, and he developed a chain of Hot Shoppes restaurants. I remember when the first Marriott Motor Inn was built on the Virginia side of Key Bridge in Washington D.C. Smart people do NOT sit and do nothing. They build their empires and create JOBS. Marriott is one small spoke in a huge wheel. Think of the other brand names in America, which reflect their founder's names. In autos alone, Ford, Dodge, Buick, Chrysler, Porsche, and Mercedes, are names of founders. Hellman's Mayonnaise, Otis Elevators, Fox films, Breyers Ice Cream, John Deere tractors, Wrigley's chewing gum, Steinway Pianos, Firestone, Goodyear, and Goodrich Tires, Boeing and Sikorsky planes and helicopters, Carnegie Hall, Lionel electric trains, and it can go on and on. All got rich, and all created JOBS. I live in "The Townsend House." T.B. Townsend, who built my house in 1887, bought mines in Silverton, Ouray, and Telluride, plus started a bank, and provided JOBS. During those halcyon days of Americans creating great wealth and huge numbers of jobs, taxes were virtually zero, thus allowing profits to be invested in additional job creating industries, most of which have left America, due to confiscatory taxation. During those days, millions of substantial brick homes, and hundreds of neighborhoods were created. Now the Demos and Obama want to raise taxes on the job creating, thinking, industrious, rich? How STUPID! This is known as eating your seed corn, or biting the hand that feeds you. (I've decided to make my columns shorter and more succinct.) P.S. The boobs in D.C. say the 'recession' was over 15 months ago, which is a typical D.C. lie to cover up the truth. Tell that the 15 million looking for jobs, or the hundreds of thousands who will lose their homes this year. |
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Before we go any further, taxation at any level, is theft. Theft being accurately defined as having something taken from you without your permission. Did any of you vote to have your wealth taken in the form of taxes? The rich are already taxed to the hilt. The top 2% of the rich pay close to half of all taxes collected. I won't attempt to define 'rich,' as it defies description. When I was a kid, if I had a quarter in my pocket, I considered myself rich, because that would buy me five Cokes, three rides on the streetcar, or five games on a pinball machine. A quarter today, will buy virtually nothing. Being a 'millionaire,' used to mean something really breathtaking, but today, the government spends a million bucks a second, and a million bucks, just isn't that impressive any longer. Let's consider the really rich people. The ones with hundreds of millions in surplus dollars, and who have no debts. There are such people.