Cutting Taxes on the Rich will NOT Help You

Hmmmm… the public always loves to hear that the rich are getting soaked…as much as we claim to abhor the “class warfare” rhetoric from the left, the minute most of us hear “tax increase for the rich” or “close the tax loopholes for the rich” we silently cheer that the “bastards are finally getting theirs.”

Let’s cut the bullcrap…the “rich” are “rich” because they shelter their money effectively and efficiently. They are generally wise with their money (unlike the government)  If the gov’t closes loopholes and cuts off tax incentives (yes even to the EEE-vil oil companies) the rich will not cease to be rich and YOU will not benefit from any windfall.

The rich will find other places to safely park their wealth that doesn’t include giving to a government that is a PROVEN waster of  wealth. The wealthy will form non-profit charities or other philanthropic endeavors or they will simply invest it overseas where the gov’t can’t get it…DO NOT be deceived by marxists/communists who tell you that the rich will suffer financially because of their redistributive schemes…they won’t…ever…unless the government starts to physically confiscate tangible wealth from them…

I will tell you from a common sense perspective that it doesn’t & won’t happen. Look at Bono the Great…Ireland decided that artists needed to “pay their fair share” and they cut off the tax incentive for artists…what did Bono the Great do? He moved his multi-BILLION capitalist venture to another country…did Ireland see any of that “new” tax revenue…uh no…and the United States government won’t either…The “rich” and corporations are in business to stay rich and make money. They are NOT in business to give it to the wealth waster and consumer of wealth the government to waste.

YOU personally will NOT benefit in any real or meaningful way from “soaking the rich” and as much some of the rich parade themselves on cable news shows and tell you altruistically that they will be “happy to pay more in taxes” they are lying to you. They don’t like to pay taxes anymore than we do.  They can sign pledge after pledge to pay more, but unless and until they just cut the check to the IRS for more money over and above their tax liability, then it’s all a PR stunt. They will find other shelters and loopholes for their money (remember most of Congress members and their friends & contributors by extension are wealthy). The wealthy will hire more tax attorneys, accountants and estate planners to protect their wealth.

The wealthy will always be with us as too, get used to it, get over the envy, it is a destructive cancer personally and nationally…The wealthy are PROVEN job creators not the government. The wealthy are not the current administration marxists consumers of wealth (marxists consume so totally that the masses are left with nothing) and the wealthy contrary to the marxists claims are not hurting you in the least.  You can’t miss what you never had.  If you never had, not having it can’t hurt you can it?

The Laffer curve will prove itself once again…the gov’t will not see significantly higher tax revenues by raising taxes and “closing” loopholes…

The government wastes money as a matter of course, they are a consumer of wealth not a creator or wealth.  Gov’ts   do NOT redistribute wealth or we would all be wealthy now wouldn’t we?  If they were the Great redistributors of wealth, there would be no poor.  Look around you…we STILL have poor even after 40 odd years of the gov’t “wealth” redistributive social programs.  Jesus said the poor would always be with us. He was correct. The government does not create wealth nor a middle class, wealthy entrepreneurs do.  Anything the government “creates” is an illusion, once revenues fall; the government-produced middle class disappears.

Republicans Refuse to Cut Spending

Filed under

Politics, Taxes

Yes, you read that right. With all this talk about budget plans to cut $1.4, $2, or 4$ trillion over the next decade we should be wary of such big numbers in this political climate. Both sides are at a stalemate and are willing to make a deal that makes them look good to the voters. All that is needed is the impression of spending cuts from both sides and the voters will be none-the-wiser. The media will hale it as a once-in-a-lifetime achievement, praising both Republicans and Democrats. Who knows, it may even get President Obama re-elected.

I can only hope that non-traditional media like Godfather Politics can inform as many voters as possible about the raw deal we will most likely be getting.

When I hear things like a $2 trillion spending ‘cut’ over the next decade, it sounds like it may be a massive reduction. To the average American, billions of dollars is a huge sum, but so is trillions of dollars. It’s almost too massive to the point where we can’t fathom it. Here’s a graphic guide to help you visualize how large one trillion is. The 2010 budget amounted to a little over $3.55 trillion and if the Federal government were to spend an equal sum (quick hint…it will spend more. The budget cuts are always based on current projected spending data extrapolated out.) that $200 billion in spending cuts would amount to a massive…actually measly, 5.6%.

So, our supposed Conservatives in Congress want to make a deal to conserve taxpayer income and the best they can shoot for is a 5.6% reduction? That’s like cutting out a daily Starbucks and monthly Netflix subscription from a taxpayer’s budget. It’s small potatoes.

Thanks to a video by the CATO institute (I implore everyone to watch this) we learn that the interest we owe on our over $14 trillion in Federal debts will amount to $207 billion which is less than the proposed amount to be cut from the budget.

Even if the Federal budget never increased in size, we would be on a path to continue adding to our budget deficit every year. Boehner already gave up on the $4 trillion in spending cuts which is the only deal that was ever on the table that made sense. We need bigger spending cuts than that, but at least it would have been start.

Our politicians continue to play games with the voters by manipulating numbers. They think we are stupid. We aren’t. We are on to their game and we will remember what happens with these budget talks come 2012.
Read more: Republicans Refuse to Cut Spending | Godfather Politics


About KellyAnn Hicks-Digby

My hubster & I have been married for almost 35 yrs (seems like yesterday). We are empty-nesters with 2 handsome sons & 2 beautiful daughters-in-law. We also have a large adopted family that are very special to us! I am a not-so-perfect Christian-in-the-making, a wife, a mother, professional Chef, writer & paralegal. I went to college at 50 and graduated with my Bachelors degree 4 years later. We moved to S.C. 7 years ago and love our new home and the Southern culture and our friends and family. I love chocolate, cheesecake and putting a smile on folks & family's faces by creating special meals and sweet treats for them. My passion is to find the best darn chocolate and eat it all! Life cannot & should not exist without great chocolate! Life is short eat dessert first! Till next time ya'll!
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5 Responses to Cutting Taxes on the Rich will NOT Help You

  1. Pingback: Rich Rich » Cutting Taxes on the Rich will NOT Help You | Questioning With …

  2. Joanie says:

    The most prosperous time for this nation occurred when Calvin Coolidge, who believed Laissez-faire government, was our president (1923-1929). The tax rate at 25% and federal government was raking in the money. Government got out of the way on businesses and people were able to work. They acquired enough wealth to buy items that help make life easier and provided leisure time. We now have BIG government which regulates the hell out of job producers, taxes only 1/2 the population of this country and provides no incentive for the other half to get up and work for a living. It defends its choices by attacking and vilifying those that EARN there money working 40 to 80 hours a week. It is Time for this Crap to STOP!
    By the way, during that time, the wealthy did not feel the need to shelter their hard earned money because they felt it was an extremely fair tax code. The wealthy actually paid more in taxes during that period. What is fair for one should be fair for everyone.

    • Couldn’t agree more Joanie…Coolidge is a GREAT example of how government can actually act Constitutionally and get the hell out of the way and let a REAL free market economy flourish. But this is really less about economy theories and more about the continued accumulation of power by the political elite in this country and the finishing of the complete transformation of America at the hands of the leftists. Which is why “Laissez-faire” ideology is such a dirty word to leftists…because it frees the American exceptionalist spirit to fly and flourish by cutting gov’t out of the equation…
      Ya know in some of my college classes (just last year) I was told that “Laissez-faire government” was terrible…I actually had to look the term up and found that I DISAGREED vehemently with the textbook authors assertion that “Laissez-faire government” was a bad thing. You may be asking yourself what WAS that class…Constitutional Law…outrageous isn’t it what they’re “teaching” our children? The textbook was written by attorneys, something else that should scare the living bejeebus out of parents and used at a community college…

  3. Excellent post, Wraith. Obama and the far left don’t give a damn about taxing the rich. they know as well as you and I that it doesn’t work. It’s all about driving a wedge between the haves and the have nots. It’s about creating hate and solidifying their power base. Very sad, my friend.

    • Thank you for taking the time to stop by. I appreciate your comments and I agree with you whole-heartedly. What is equally as sad to me is that people STILL fall for the ploy of creating hate between the classes…

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