Friday, August 19, 2011

Tax the Hell Out of the Money from Money People

This past week much ado has been made over Warren Buffet's OpEd in the NYT: Stop Coddling the Super-Rich (worth reading if you haven't already).

So the Left will read this and cheer and demand more money they didn't earn go to entitlements like save the fluted brown bush --and will distribute "I stand with Warren Buffet" petitions to all their friends on Facebook.

The Right will get defensive before they even read it and shut out hearing any suggestion because it seems so phony coming from all their annoying Lefty friends that are most likely in the 50% of Americans that don't pay any taxes at all...and then they'll send those Lefty friends the Youtube link for the kids asking college students to redistribute their GPA scores.

BUT, there actually is a middle ground on this one.

In the center of the piece Buffet made a comment that got me thinking. He talks about the two different kind of rich people. Those that "make money with money" and those that "earn money from a job." So, the redistribute GPAs analogy only works when discussing the EARNERS. If someone was handed their grandfather's inheritance/GPA, taking some of it away wouldn't be bad at all because NEITHER person earned it.

What gets me is the kid sitting on his stoop complaining about the rich when he should be at a job...any job...asking for even more money from the likes of Oprah. Someone that was born as poor as he was and took risks and worked like crazy to get where she is and have what she has.

But what about the 6th generation money kid that has never had a job, that been to rehab twice, gotten a 911 Carrera for his 16th birthday and complains that the Hamptons house doesn't have enough staff when his parents are out of town?

Tax the shit out of that kid.

The "mega-rich" do carry the tax burden for the majority of the country and I agree that taxing them more could adversely effect our already depleted job market. Let's leave the "Earn money from a job" people be. BUT, as for the "make money from money" folks...they are fair game in my book...

See, a middle ground.

No comments: