18 August 2011

Demonizing the Rich

The rhetoric castigating the "evil" rich has escalated over the last 10 years. Truthfully the rich haven't really ever been beloved but there used to be an understanding the millionaires and billionaires had a net positive on our society because they took the risks, put up the capital, had a great idea for an invention - and then benefited from doing that. Plus, they actually hired people and allowed Americans to enjoy a higher standard of living.

Were some of them scoundrels? Of course.

But no one is perfect, but don't tell the Marxist-Left that. They think anyone who makes a profit is a rapacious bourgeois capitalist.

Just look at the language that Obama and his minions use regarding rich people:
* "The rich need to pay their fair share."
* "We're targeting millionaires and billionaires."
* "We're going to close tax loopholes that for too long have allowed the rich to not pay their fair share."

Just like a broken record Obama drones on with his class-warfare, Group-Hate mantra.

One week we're supposed to hate the oil companies, then it is the pharmaceuticals, then it is the insurance companies, then it is the hedge funds and then it's the "speculators" ... and on, and on, and on.

Excuse me but isn't he such a whiney little bitch?!?!?!? I mean really - can't President Dumbo take responsibility for something other than killing Osama?

And with such hostility around, billionaires are up and leaving. Who would blame them? If I was wealthy and had a president, steeped in Marxism - with delusions of grandeur; I'd be heading to Chile too.

Even if you taxed the rich at 100%, we wouldn't even dent the national debt. Does he ever mention that? Does he ever mention that only 49% of Americans even pay Federal taxes? Does he ever point out that our tax code is all of 70,000 pages long and a legitimate barrier to effective tax collections? Does he ever acknowledge that 1% of tax payers cover 60% of tax collections?

No. Because pointing that out would deflate his pitiful argument that the "rich" need to pay more.

Spending is out of control - not tax collections. Entitlements need to be driven down to the bare minimums if we're ever going to get out of this fiscal mess.

20 years ago a millionaire was someone who made a million dollars a year. Now, a "rich person" are considered someone who grosses $250,000. That could be someone who owns a dry cleaners or a coffee shop or a small business.

The "rich" is a moving target and is another example of the Weasel Words that the Left uses to control the language, and control the argument.



I don't begrudge anyone from making any amount of money that they want. It's called living the American Dream. I've discussed conservatism before and examined why the Progressive Tax is straight out of the Communist Manifesto.

But it is more than that: You spend almost one-third of your life working. You spend one-third of each work day working to pay the government. Hundreds of hours a year are spent by you working to pay the government.

And what is the government doing with the fruits of your labor? Squandering it. They're busy buying votes in the black and latino communities. They're handing it out as "entitlements" to people who don't appreciate it, and only cry for more.

You and I have a finite amount of time on this earth and we spend a significant amount of time away from our loved-ones, working. It is an outrage that the money you make by your labor is taken from you by some feckless government official and doled out to some indigent asshole.

Do you think that's right? It's not only immoral, but also unconstitutional.
So as the old saying goes, "Work Harder: Millions on Welfare are counting on You."
And if we keep electing Democrats, that motto will continue to be a sad fact.

The poor and lower middle class should start paying their fair share. The "Zero Liability Voter" are the lazy fools who vote themselves a government hand-out every time.

Thanks for visiting, and come again!

10 comments:

Anonymous said...

It is a broken record my dear, Rue-y because this country has allowed the rich NOT to pay their fair share.

Capital gains, income through others' labor related to property ownership in real estate, stocks, and other holdings, are taxed at a top rate of 15 per cent. Income from actual work, however, is taxed at a top rate of 35 per cent.

The disparity between the taxes on the two types of income costs the government $84 billion annually. Equalizing the tax rates paid by rich investors and working Americans would be an excellent start.

The top 0.01 per cent of households, who earn an average of $35 million, typically receives more than 44 per cent of their income from capital gains. The richest Americans receive the special privilege of having half of their income taxed at a much lower rate than the vast majority of working families.

Unfortunately folks like you my friend have been brainwashed about this great pull yourself up by your bootstraps junk.

Those Bush tax cuts were supposed to create jobs. In fact manufacturing jobs fell about five per cent.

"leftisthebest"

Rue St. Michel said...

Lefty,

Forcing equal outcomes via Government fiat is the thing that is "junk".

The failure that is Socialism is founded on everything you just wrote.

And it is ALWAYS an abject failure. Can you convince me otherwise??? Why don't you try. I DO have an open mind.

"Income Disparity" is not something to be corrected by government intervention - that 'disparity' is caused by talent, inventiveness, commitment, education, and risk.

Adam Smith's "invisible hand" is the engine of capitalism.

Coldtype said...
This comment has been removed by the author.
Coldtype said...

Rue, over the last three years the world witnessed the collapse of market capitalism and the confirmation that the major financial markets are, in fact, manipulated control frauds which begs the question: where have you been? This post reads as though it were written by someone just awaken from a thirty year coma blissfully unaware that the Reagan era bullshit myths of a “trickle-down” economy and free-trade led prosperity weren’t slain on September 15, 2008 with the death of Lehman Brothers.

...there used to be an understanding the millionaires and billionaires had a net positive on our society because they took the risks, put up the capital, had a great idea for an invention - and then benefited from doing that. Plus, they actually hired people and allowed Americans to enjoy a higher standard of living.-RSM

There’s your problem right there in a nutshell. You buy into the fiction that the wealthy create jobs. They do not and never have. Demand is what creates the need for jobs. Without secure living wages there is nothing with which to fuel demand. Period. A business brings on new hires to meet increased demand otherwise it seeks to cut costs and increase profits by cutting jobs. Obama’s problem is that he buys into the same bullshit you do so his jobs stimulus program was a fraction of what was necessary (less than 800 billion as opposed to 20 TRILLION for the banksters on the so-called supply side). Hows that worked out?

Even if you taxed the rich at 100%, we wouldn't even dent the national debt. Does he ever mention that? Does he ever mention that only 49% of Americans even pay Federal taxes? Does he ever point out that our tax code is all of 70,000 pages long and a legitimate barrier to effective tax collections? Does he ever acknowledge that 1% of tax payers cover 60% of tax collections?

These myths are incredibly resilient in spite of the mountains of evidence to the contrary but here goes. First of all the average income for the bottom 50% of US earners in ’08, the year of the crash, was $15,300. This year the first $9,350 of income for singles is exempt from income taxes and for couples the amount is $18,700. This means that many Americans don’t earn enough to pay federal income taxes but does this exempt them from paying taxes? Remember income taxes account for less than half of federal revenues and only a fifth of taxes at all levels of government. The poor are not immune from other forms of taxation at a far greater ratio of their income relative to the wealthy such as gas taxes, sales taxes, and payroll taxes in support of Social Security and Medicare.

The truth of the matter is that many in the top 1% income bracket pay no taxes at all.

Rue St. Michel said...

Coldy -

Long time no talk. Welcome back.

Your scree reads like a New Left Notes/SDS pamphlet. Next thing you're going to be quoting from that retarded miscreant Franz Fanon.

We're no longer in a theoretical debate about whether "stimulating demand" will create jobs or wealth. The chickens have come home to roost. We are all being forced to watch as Leftist policies are causing our economy to crumble.

And as the government intervenes - the more destruction occurs. This is not an inherent weakness in capitalism; it is an inherent failure of Socialism.

Now that we're facing a real crisis - not one invented by our President Dumbo - we (the majority of Americans) can see two results:

* Keynesian economics (Demand - side) doesn't apply to real life. You cannot 'create" demand, you can simply identify the need for a product and put it to market. It is the free market which decides what and what won't make it. A big part of Keynesian economics is Government spending. He thought that gov't expenditures would inherently increase a nations GDP. How wrong he was. Clearly. We're already spending close to 80% of our GDP and everything is in the tank.

* Big Government can't get us out of this. Sadly it took a big government Progressive to show us that spending beyond what you bring in is not wise. The more government expands, the less the individual has in freedom.

A business brings on new hires to meet increased demand otherwise it seeks to cut costs and increase profits by cutting jobs.

You and Obama both miss the point on this. A company isn't in the business of creating jobs - it is in business to create product lines that will make a profit for the company. Period. Nobody opens a business thinking "Gee - there is demand for this so I will produce it." Demand means for shit if your company will only cover 1% market share of an over saturated marketplace on a low cost/high volume product.

And regarding taxation: I don't know where you're getting your numbers but I get mine from the IRS. Quit quoting from the back page of Mother Jones. It is common knowledge that the top 2% pay the lionshare of income taxes in this country. I support a Flat Tax because it is fairer, simpler and easier on everyone. We all know people who are scamming the system too. Baby Mama with 3 kids doesn't marry baby daddy who lives with them so Baby Mama can claim head of household, get the childcare credit and EI credit, and still enjoy an income with Baby daddy. PLUS she can get all kinds of freebies from the government (ie. from me and you.)

Overall Reagan was right on the money with his policies - and we had 20 years of prosperity to prove it. Sadly it only took BHO 3 years to plunge us into $3.5 trillion of debt - almost ALL of it entitlement spending to his "peeps".

Rue St. Michel said...

ps. I sense a deep strain of Nihilism in your comments, Coldy.

Life is not one big tub of moral relevancy - there is right and wrong.

And where is your empathy? Close your eyes and imagine that YOU, yes You, get inspired by The Muse and invent the best mouse trap in the history of the world. You reach out, get loans, start a company and within 12 months you're making $100,000 a month in PROFIT. You find that business is so good that you have to hire an additional 50 people to keep up with demand.

Would you at any point think,"Jeez - I'm exploiting my workers, and stealing natural resources from the workers in Angola."

Uh, no. I doubt it. You'd no doubt think that you were doing a valuable service to the community - helping folks get rid of rodents in their homes. The side benefit is that you'd soon be a millionaire. You'd probably be putting in 90-100 hours a week as well.

You can apply the same to those folks who run a small business.

Why do you begrudge them a profit for working? How is it more "noble" to be decrying business, capital and money?

Coldtype said...

“We're no longer in a theoretical debate about whether "stimulating demand" will create jobs or wealth. The chickens have come home to roost. We are all being forced to watch as Leftist policies are causing our economy to crumble.”-RSM

Please identify the leftism in the following policies...

---Faced with a financial crisis facilitated by the unfettering of capital from effective regulation the government bails out the very malefactors most responsible for the crash with 20 trillion dollars (so far) in taxpayer largess.

---Faced with the most inefficient healthcare system in the developed world costing a third more than any other first world nation with far worst outcomes for participants, the government doubles down by mandating that citizens purchase private insurance policies from the very entities that make the system so inefficient and expensive... private for-profit insurance companies. The rest of the developed world has some form of a single payer system and the superior outcomes that go with it.

---Faced with record deficits the Obama administration refuses to raise revenues by closing corporate tax-evasion loopholes, end the Bush-era tax holiday for the top 2% of earners, and reintroduce a progressive tax policy as was the case during the period when the nation enjoyed its greatest prosperity (1950-1975). Instead the administration attacks programs such as Social Security which contributes not one cent to the deficit and, in fact, is the most successful and solvent program in US history (currently sitting on a 2.7 trillion dollar surplus). Completely ignored, however, are policies that exacerbate the deficit such as run-away “defense” spending and at least five ongoing wars of choice against nations posing no threat to our own.

Coldtype said...

Continued:


“Keynesian economics (Demand - side) doesn't apply to real life.”-RSM

Really? So when the government undertakes a major roadway project the money spent on contractors to do the job can’t be used by the workers in exchange for goods and services in the greater economy then? I learn something new every day.

“You cannot 'create" demand, you can simply identify the need for a product and put it to market.”-RSM

You’ve just described demand. The “need for a product” is a response to demand... which of course can never be realized without viable wages.

“It is the free market which decides what and what won't make it.”-RSM

There is no really existing free market Rue and there never has been. Winners and losers are chosen in this system and always have been. The nuclear power industry, aviation, electronics/computer technology, broadcast networks (on pubic airways), etc all owe their very existence to government subsidy and favorable legislation. If the greatest wealth transfer in human history i.e the bailouts of 2008/2009 in which the Wall Street hustlers who cratered the world economy were rescued from the consequences of their malfeasance then nothing will convince you of the fallacy of a “free market”. In a true free market in which excesses are corrected naturally and without interference then JP Morgan/Chase, Morgan Stanley, Goldman Sachs, Bank of America, and Wells Fargo would have been allowed to collapse as their balance sheets dictated.

“A big part of Keynesian economics is Government spending. He thought that gov't expenditures would inherently increase a nations GDP. How wrong he was.”-RSM

You’re not making sense Rue. GDP is simply the total value of a nation’s economic output of which government spending has always played a leading role. How then would increased government spending not increase GDP? Our problem is a lack of revenue due to tax avoidance and subsidies to the wealthy and corporations which offshore both profits and jobs. Combine this with runaway military spending, an inefficient pay-as-you-go healthcare system, and the Wall Street bailouts of which the Federal Reserve audit confirmed included some 16 trillion dollars in taxpayer obligations---two trillion more than the GPD produced in the US during an entire year---then the cause of the crisis becomes clear to all but the willfully blind. Concerned about the deficit? Then raise revenues.

Nobody opens a business thinking "Gee - there is demand for this so I will produce it.-RSM

Nobody who does otherwise stays in business for long.

More later...

Anonymous said...

Honey, I love you. What u need to do is quit your job and either write a book or run for office. And I am dead serious.

Rue St. Michel said...

Hi Anon -
Yea, I love you too. Thanks for the warm wishes and the kind words.

Coldy -
From the Top:

---Faced with a financial crisis facilitated by the unfettering of capital from effective regulation ....

What are we in 1809 and there "aren't enough regulations" to go around? Are we a fledgling democracy and we need new laws and regulations? Hardly - we are over burdened with them; to the point of ridiculousness. Do you think we need a "cell phone" law? Or more of the Nanny-State fecklessness that demoralizes a population?

---Faced with the most inefficient healthcare system in the developed world costing a third more than any other first world nation with far worst outcomes for participants,...
Please tell us more about these so-called "Superior outcomes" you reference? Socialized Medicine is a disaster in terms of human health care. The evidence is legion yet, as the good little Marxist that you are, you refuse to open your eyes to the human suffering caused by these governmental entities. Britain, Canada and Cuba have mountains of anecdotal evidence that people don't get nearly the quality overseas that they get here. Just look at all the muckety-mucks (world leaders, presidents, and everyday citizens) who travel to America to get the best medicine and treatment in the world. You're going to have some faceless bureaucrat deciding whether you or your child will get the cancer treatment he needs, or the medicine, or anything else.

---Faced with record deficits the Obama administration refuses to raise revenues by closing corporate tax-evasion loopholes, end the Bush-era tax holiday for the top 2% of earners, and reintroduce a progressive tax policy as was the case during the period when the nation enjoyed its greatest prosperity....

We are faced with record deficits not because revenues are low, its because spending is too high. Spending out of this administration is the HIGHEST in recorded US history. Did you even read my previous post? It was all about the massive spending spree that this illiterate doctrinaire asswipe is taking us on.

And this is the big lie that sits at the heart of Marxism: Humans are expendable creatures. You're just a worker; or a prole or bourgeois. It seeks dominion over Man by using the instrumentalities of government to coerce, torment and oppress. And I know you and LITB don't agree with me that Obama is steeped in Marxism but look around you - Government is IN YOUR FACE at every turn. I'm not, sadly, exaggerating.


Ciao!