Morris: Tyranny Of The Tax-Exempt

**Terri** · #1 01-07-2009, 08:48 AM

By Dick Morris
January 7, 2009

It now looks like half of President-elect Barack Obama's stimulus package will take the form of "tax cuts" for 95 percent of all Americans. Yet this wouldn't so much boost the economy as trigger a massive, unhealthy shift in American politics.

Under Obama's plan, the majority of American voters would pay no federal income taxes, but would get money from the government instead. That is, these "refundable tax credits" are basically welfare checks - and Obama's plan would leave the most of us collecting, not paying.

A $200 billion giveaway won't do much to get a $14 trillion economy rolling again. But the plan would leave any future taxpayer revolt no hope of majority support.

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thomas · #2 01-07-2009, 03:27 PM

A few quotes I thought relevant!
The Old Chief
"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not"
Thomas Jefferson
Socialist philosophy "From each according to his ability; to each according to his need."
"A government big enough to give you everything you want, is strong enough to take everything you have." -Thomas Jefferson

utexas · #3 01-07-2009, 09:33 PM

This is scary.

Two thoughts, why do the rich put up with this? Just because they can afford it? It must be nice to be in that bracket.

And why are so many of the ultra- and super-rich such liberal icons, such as Soros, Gates, and Buffet, and support so many liberal and socialist causes since it is ultimately people like them who will pay for it all? Because in such a socialist scenario they will have all the power since they have the money?

I don’t understand their thinking, but then it is beyond my comprehension why anyone at all, most of all the rich, would be a liberal. A poor person I can understand somewhat because they would get whatever they wanted for free without having to do anything to earn it, but a rich man just gets what he earns taken away to pay for someone who didn’t earn it. It is madness to me.

Caliphant · #4 01-08-2009, 08:43 AM

Hate those tax debates that cling to poor vs. rich. Who´s poor, who´s rich?

We need to get back to the thinking that a dollar is not what you can buy for it but what you have to do to get it. A fair tax system should be guided by this principle.

Back in the prime of my career as an auditor I made 190k year. No question this is a lot of money. A lot of money I worked a regular 70 hour week for.

There was one thing that really made me mad back then (still does)- and it was not paying my taxes.

Whenever I had to audit trust funds, I met the "lazy rich". People, who happenend to inherit a ten million dollar fortune, drew 500.000 in interest each year and lived the good life without an hour of work. Fine with me so far.

Yet, as they made their money from privileged capital gains they effectively paid as much taxes as I did on my 190.000. To bad I had to work for my money and therefore pay a higher rate than someone who lived on interest.

If it was up to me let any income that results from work go untaxed - from the 1.000 Dollar paycheck to the 10.000.000 CEO compensation - and tax the hell out of those who make money without working for it.

**Terri** · #5 01-08-2009, 09:30 AM

Quote:

If it was up to me let any income that results from work go untaxed - from the 1.000 Dollar paycheck to the 10.000.000 CEO compensation - and tax the hell out of those who make money without working for it.

Typical liberal thought pattern.

Caliphant · #6 01-08-2009, 09:47 AM

I´m curious - what´s "liberal" about this? Guess no liberal would somebody with a 10.000.000 dollar income left untaxed.

No income tax but a higher tax on interest and capital gains would also prevent speculation bubbles in the financial markets that harm the real economy.

oldjules · #7 01-08-2009, 10:34 AM

Quote:

The democracy will cease to exist when you take away from those who are willing to work and give to those who would not"
Thomas Jefferson
Socialist philosophy "From each according to his ability; to each according to his need."
"A government big enough to give you everything you want, is strong enough to take everything you have." -Thomas Jefferson

These statements were true then and they are true now.

The government produces nothing and can not create a good secure living for all.
The Obama plan ,he states will have a one trillion dollar deficient every year in the future.We can not buy our way rich, but what Obama is doing is buying himself power with our money. If we come dependent on his gifts every day this country will lose some life until it disintegrates from the huge debt.
Beware the big spender on borrowed money it will come back and bite you. Inflation robs all of us.
If I had all the property and I was the only one that paid taxes, guess who's rent would increase.

Engineer Scott · #8 01-08-2009, 10:43 AM

Quote:

And why are so many of the ultra- and super-rich such liberal icons, such as Soros, Gates, and Buffet, and support so many liberal and socialist causes since it is ultimately people like them who will pay for it all? Because in such a socialist scenario they will have all the power since they have the money?

That's how it works. Their money is all safe and secure where the government can't get it and they push for socialism so they have all the money and power.

Scotty

**Terri** · #9 01-08-2009, 10:43 AM

Quote:

I´m curious - what´s "liberal" about this?

Quote:

Yet, as they made their money from privileged capital gains they effectively paid as much taxes as I did on my 190.000. To bad I had to work for my money and therefore pay a higher rate than someone who lived on interest.
You are making a social judgment and instituting a punishment based on the way that someone acquires their livelihood.

Did they do something illegal to get it? No.

Are they using it in illegal ways? No.

They simply had the good fortune to be born to a family that has done well and so you want to tax them more heavily for that reason. There's a good bit of social engineering and personal jealousy in your tax policy.

Liberals always want higher taxes on interest and capital gains. That discourages investment instead of encouraging it.

Caliphant · #10 01-08-2009, 11:24 AM

Different philosophy here, Terry. I don´t consider it social engineering to value work higher than living on interest only.

Sure, my kids were lucky to be born into a family that did well. I paid for their college education and provided for a start into their adult life - but they´ll not inherit any money or stock one day (wouldn´t be enough for a trust fund anyway) ;-)

IMHO only a self supporting living is a free living.