...been thinking about this...
Just watched The Daily Show going over something similar:
Those whose income is quite high, did they make/inherit their wealth in this country? Do they live under the blanket of US military protection? Do
they live with the support of the local police and fire department? Do they drive on state and federal roads? Do they prosper under these
circumstances? Do they enjoy a Congress they virtually own who writes legislation in their favor? Well then, their taxes, which must be paying for all
this, are doing a pretty good job. 235,000 millionaires can't be wrong. That US government must be a pretty solid investment (albeit imperfect) to
underpin their business environment.
I guess one could argue if they are paying for it, it better run their way. For the most part, it seems to. Hell the more poor people you have and the
more unemployed, the easier it is to hire cheaper labor. And you don't even have to go to China. That is unless you have to pay for them to be poor
too while not getting anything out of them work-wise. That negates your investment. We need to work on that part.
If a family is poor (by the US Census, family of four, around $23K/year) what are they supposed to pay? They do not control squat. Might they be lazy
and unproductive? Some are, no doubt. It does not mean they have any more money to throw in the pot. The bottom 50% control 2.5% of the wealth in this
country. Even if they worked hard, changed their loafing ways, they might now control 3.0% of the countries wealth. Let's go wild and say 10% of the
countries wealth. Now what? Even if they doubled their income to $46K per year, how much more blood do we expect to get out of that turnip? What will
they have left to buy all the stuff which runs the economy?
Come to think of it, with the enormous trade deficit and outsourcing we have in this country, where are those increased wages going to come from?
Doing each other's laundry? Working at Starbucks? Where is the work which will provide an increased cash flow into this nation to pay those now
non-lazy taker-class people? What's up wealth creating class?
Instead of plying Washington with more cash to skew the tax code even further in their favor, it seems to me the job creator/wealth generating/etc
class would do better by trying to turn this country around on the manufacturing front and stop blaming the federal government for their failures or
using it as a cover for their greed.
I know the flame will come from those who will puke out Economics 101 as if we currently exist in a sterile classroom environment where X + Y always
equals Z. It will come from those pissed off they have to pay taxes on their hard earned dollar while their lazy neighbor gets a welfare check. While
I can empathize with the latter, the former need to ease off their causality high horse.