The “Taxing the Rich” Diatribe

                                           

Whenever a politician utters the magic phrase “Tax the Rich” I suggest you put on your thinking cap and remember these facts:

                       

About 9 million Americans earned $10 million dollars or more a year. They sure are rich. If you taxed those scoundrels 100% of their earnings, every penny they were “lucky” to get, the government would come up with about $250 billion. That lasts Uncle Sam a few weeks.

                       

The truth: The top 1% earners pay about half of taxes, so if some folks are getting away with not paying enough taxes, it’s not the ‘RICH’

                       

Furthermore, most of the rich earn, not inherit their wealth, thus taxes are a burden on the entrepreneurial, job- producing economy. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)