Speaking of taxes…

We have now reached the point where folks volunteer, plead to be taxed.

A group of 50 rich Germans has joined the ”tax me harder” movement by renewing their open call to Angela Merkel to ”stop the gap between rich and poor getting even bigger.”

Sure, these particular folks have money to burn. Unfortunately, the taxation never stops with them and does absolutely nothing to fill this “gap” they pretend to worry about. How does giving your money-to-burn to the state so it can burn it for you change anything?

”None of us are in Buffett’s or Bettencourt’s league, most of our wealth is inherited. But we have more money than we need.”

“Imagine that a genie magically appeared and offered to grant you one wish – and, being a decent sort, you wished that everyone’s income would be doubled. That could bring down on you the wrath of the political left, because it would mean that the gap between the rich and the poor had widened. That is basically their complaint against the American economy.”

One response

  1. It’s disingenuous. The fact is that very rich people don’t pay income taxes. They pay capital gains.

    So when Warren Buffet prattles on as he does (and he’s been doing this for years,) he’s being just as much of a weasel. If he really meant what he said, Berkshire Hathaway, his company, would actually pay a divident to its’ shareholders. That would put him and all of his wealthy shareholders on the hook for a minimum 15% of that dividend.

    Also, take a look at the price of one common Berkshire Hathaway share (http://www.google.com/finance?q=NYSE%3ABRK.A&hl=en#). In however many decades that he’s been running it, he has not let it split. The point of letting it ride up to $130,000 is to keep the riff-raff (who pay taxes) out.

    As for Mr. Tax me Herm types, this is at least the 2nd (http://news.bbc.co.uk/2/hi/8321967.stm) or 3rd time they’ve flaired up to either assuage their programmed guilt or buy Karma points from the usual haters, knowing that it’s hard to make a special law to tax wealth, and that it will never happen.

    Besides, the 5 Bn euros that they say the special tax will pull in is peanuts to the Berlin Republic, but likely to dampen the generation of jobs by the rich NOT INCLUDED in the 50 twits who signed on.

    If they really mean it, and want to pay more taxes, they should invest in a real business that makes stuff – they’ll be paying taxes out the wazoo.

    How about some “direct action”, inheritence boy?!?

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