October 13, 2011

Eat The Rich

Wealthy people aren't bad people. Well, not all wealthy people are bad people. I'm sure there are rich spree killers or well-to-do rapists but, as a rule, people can't be categorized as good or bad based on their tax bracket. So the wealthy aren't, as a whole, bad. But - if you'll allow me to weigh into an argument from which I will not emerge unscathed - the rich aren't pulling their weight.

I'm a Democrat and a liberal one at that so it shouldn't surprise anyone that when it comes to the so-called Buffett Rule that seeks to level the tax-paying playing field, I'm all-in. And I assure you that if I did make a million dollars or more a year (which I don't*) I would still support it. In fact, I'm no economist but I'm hard-pressed to figure out a reason not to support it.

The argument that the rich are the primary source of economic reinvest is complete bullshit. At least its not any more true than it is for the middle class and the low income. The truth is everyone's hoarding right now so giving back shouldn't really be a consideration in the argument. It's hard for me to support the argument that it overburdens the rich because it's hard for me to feel sorry for millionaires who've paid less in taxes than school teachers. It's not class warfare, it's not payback and it's not greed. It's pain.

More than any other time in our nation's history with the exception of the Great Depression, the poor and middle class are getting squeezed. The homelessness that used to be confined to our cities has seeped through tunnels and over bridges and into suburbia. People have taken up signs and marched on Wall Street for weeks. Don't you think if there's a sensible option we should try it?

Am I wrong? (It's okay if I am but give me a better idea.)

* I'm not rich but I do acknowledge here and now, for the record, that I'm better off than a lot of people in the world and don't think I take that for granted.

Posted by Chris at October 13, 2011 7:24 AM
Comments

I absolutely, wholeheartedly, agree.

Posted by: 3jaysmom at October 13, 2011 8:44 AM

I agree.

Posted by: Jen Rothmeyer (EmSun) at October 13, 2011 9:51 AM

Well said!

Posted by: bacioni at October 13, 2011 11:24 AM

I'm so liberal I'm ashamed I use my RIGHT hand. what I really object to is the "Class Warfare" crap being tossed around. EXCUSE me? If there is a class warfare underway it is surely the middle-lower class. we're the ones losing. And I cannot for the life of me believe that the rich(er) complain about this. Bill O'riley said that if he had to pay more tax, he wouldn't have enough money to keep up his work on FOX. (Evil witch cackle) Go congress for that alone.
And as for your income status, we all know you are comfortable. And to tell the truth, that is all we really want. keep up the good work.

Posted by: joss is boss at October 13, 2011 11:33 AM

I wholeheartedly agree with you! I also feel that if Warren Buffett suggests it, maybe we should listen to him; he seems to know what he is doing when it comes to financial decisions.

Posted by: Krush at October 13, 2011 11:41 AM

A-men.

And if Bill O'riley wants to take his toys and go home because he's bringing home five million instead of ten I'm pretty sure there are plenty of people (who have had to learn to make do on a poverty level income) who would be happy to take his place.

Posted by: Jess at October 13, 2011 11:57 AM

I have no problem raising taxes on the rich. If the rich (at least some of them) don't have a problem, I can't imagine why anyone else would. I mean, Buffett is basically offering to give more money to our government, which everyone agrees needs cash, and people want to say no?

Fools.

I can't believe I'm actually going to say this, but I'm not horribly against paying more taxes myself. Do I want to have less cash to spend? Of course not. But by any standards in the world, from a rich man's perspective or a poor man's, I'm blessed. I'm blessed with family and health and love and while we aren't millionaires, with money.

Posted by: Becky at October 13, 2011 12:02 PM

As a left-leaning Canadian, I wholeheartedly agree with you. I fear the path that the US is taking right now, stomping on the heads of the middle and lower classes...taking the economy and the rest of the world down the toilet with it.

Posted by: Procrastamom at October 13, 2011 12:16 PM

I'm with you, dude! Could not agree more with everything you said! Great post.

Posted by: cyndy at October 13, 2011 1:35 PM

I wholeheartedly agree. I admit that I am not well-versed on the topic, but it just seems like it should make sense: if you make more money, you should pay more taxes. I mean, if you were buying a $100 item and a $10 item, you wouldn't pay more sales tax on the $10 item. It just seems like this should be a similar application.

Posted by: Manda at October 13, 2011 3:22 PM

First, I agree.

Second, it's high time that we realize we are no longer a democracy or a Republic. We are ran by major corporations. Corporations who, interestingly enough, pay less in tax every year than I do. But they line the pockets of lobbyists and politicians alike. And they make every decision.

It's sad. I used to "proud to be an American." And now? I'm scared. Plain and simple.

Posted by: Mindy at October 13, 2011 4:29 PM

I concur. One of the people I respect for their stand on this issue is J.K. Rowling who continues to pay British taxes even though her accountants advise her to move money offshore, at one point she was living on social assistance as a single mom and feels it's her responsibility to support the system that helped her in her time of need.

Posted by: Heather at October 13, 2011 4:49 PM

So I'm almost a full week late. But I was finally able to listen to Owen's question session. The kid is adorable. I want one. Oh wait. I already had 2 and they just aren't that cute anymore.

Dear Owen -

You know far more about super heroes than I do. Except I do know a little bit about Hulk. Because I love him. So yes, he would absolutely use his giant, strong muscles to break through the cryptonite. For certain. Because he's big and strong and the Hulk.

But I must say, I think that Jabba the Hut could eat far more than Luke. In fact, I think Luke would have to use The Force because otherwise? I think Jabba could eat him.

I hope you have a great day, Owen! You have a great daddy, and he loves you to pieces!

Posted by: Mindy at October 14, 2011 12:56 AM

I agree with all you said. If I thought my paying more taxes could solve some of this country's issues, I'd do it. But taxing me more wouldn't make a whole lot of difference. If I made more than a million a year? that would be a whole different story.

Posted by: Elizabeth at October 14, 2011 8:06 AM

Right on!

Posted by: erin at October 18, 2011 12:27 AM


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