Tuesday, August 16, 2011

Patriotic Millionaire Nonsense

If some millionaires believe those having their level of wealth should be compelled to pay more taxes is absolute nonsense!  The implication is that millionaires and billionaires who do not want to fork over more of their money to the government thus are less that patriotic. That’s bullshit!

The bottom line in our society, money belongs to individual citizens who’ve earned it through wages, investments, and other legitimate pursuits. It’s not money that the elites of society have been empowered to decide how to allocate where they feel it is best put to use.

The dump on the rich, class warfare game that the Democratic Party is playing is a crass political ploy to develop resentment between an impressionable block of voters and those who are the real movers of our economy. The public is dumb enough to buy it.

The logic of the rich should support measures to pay more taxes is patriotic simply is not logical.  Where is their duty to speak up and demand the state seize more of their assets?

Being rich and patriotic can come in many forms.  For some, it’s contributing generously to agencies and causes in their community.  Go to many hospitals and see how many have suites or other parts of the facility are named for some wealthy benefactor who contributed significantly to upgrade the hospital.

For others, it’s supporting such institutions as art museums, parks, symphony orchestras and other gathering places which add to the quality of life in their locale.

There are numerous other causes, institutions, and people oriented programs that benefit tremendously from the VOLUNTARY contributions from those society considers wealthy.

Yet, do those with a lot of money have to do any of the above to be patriotic? Of course not. Their involvement in the economy creates and sustains jobs. Even the pursuit of luxuries many middle class people can’t afford such as lavish country clubs or corporate jets benefit the entire community. Country Clubs employ grounds men, custodians, waiters, bartenders, locker room attendants, golf professionals, caddies, and an administrative staff – all of whom earn a living from the recreation of the rich. Corporate jets provide jobs too. First, lots of jobs are involved in the manufacturing process and this industry still resides many in America. The planes need to be maintained and kept at an airport. Almost all have hired pilots. Jobs, jobs, jobs.

If folks resent the rich, it’s more a case they are passive aggressively admitting they’re losers. There is no class system with hard ceilings in the United States. A person who is willing to obtain an education (sometimes working to pay for that education and not depending on government loans or maybe even obtaining a scholarship financed by a wealthy person), show tremendous self-discipline and work like hell, can become very wealthy. Many of them find their road to riches starting small businesses. It doesn’t take much in expenses to make $250,000 a very humble family income if a good part of that income is dedicated to running a small business.

There is nothing to prevent Warren Buffett from donating huge chunks of his billions to the government. All he needs to do is determine how much and write a check. In the meantime, Buffett and his accountants work hard to make sure he receives every cent the law entitles him to keep within current tax laws. Even among the wealthiest of the wealthy, Warren Buffett is a very wealthy guy.

Our society will be the healthiest and ultimately the tax collections will receive the most money if the private sector economy is thriving. Confiscating wealth from those who best know how to generate it helps no one.


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