Comment Re:So both and get it done! (Score 1) 954
Who, besides you, has suggested confiscating all the wealth of the rich?
Oh boy. I'm not at all suggesting we confiscate all of that wealth. I'm attempting to illustrate for you in real numbers how ridiculous the proposition is. If confiscating all of their combined wealth won't fix the problem, how is tapping into an additional couple of percentage points going to make a difference.
1) is demonstrably incorrect.
How so? Please fill in the gap that I am missing here. Just how much additional revenue are you able to extract from the top tax brackets? How long before that is able to balance our annual deficit? What sort of time frame would you be looking at before we can even make a payment on the principal of the debt, much less pay it down to some reasonable level of our GDP?
If $4.5 trillion won't do it, how much would?
2) is a point of view, and to put it mildly, not one I share.
I don't believe it to be immoral for a government to tax. I don't believe it is wise to increase taxation on anyone until we've got a handle on spending.
3) is a utilitarian argument and I am skeptical of the validity of either the analysis of the problem or the proposed solution.
Then you would have to argue in favor of the present system, which is so utterly complex that you either need to purchase software or professional assistance to properly calculate what you owe. This is where the truly wealthy, as opposed to high wage earners, are able to avoid paying what I'm guessing we'd both consider their fair share. Democrats and Republicans picking winners and losers all the while hiding these actions in a tax code that makes the Linux kernel read like a pamphlet.
If you honestly would like to see the rich pay more than they do today, the only feasible way is to have a tax code that we can all understand. Otherwise, the wealthy can never be touched by any increases in the tax rates. They'll pay their way to new loop holes and deductions through political donations and lobbying efforts.
I honestly don't think I fully grasp the ramifications of Mr. Cain's 999 plan, but I would hardly call it absurd. It's certainly focused in the right direction, as there can be no justification for the present complexity other than to continue to let both parties hide favors to special interests.