But think how happy folks like Gates and Buffett would feel. Gates alone would be "donating" $45.6 billion to the United States Treasury. And hey, we wouldn't need cash from Bill -- the government would be happy to just take possession of his excess assets.
As for Warren, the $54.9 billion he would owe could help cover Fannie, Freddie and so many other worthwhile causes. Of course no one would be meandering over to Omaha to hear his wisdom on making money, because he would be "just another billionaire," instead of the richest man in America.
Sound absurd? Of course. But it makes a strong point.
The two wealthiest individuals in America believe that if you strive to become wealthy, government should take more of your money and determine where and how it can be wasted. The problem is, there aren't enough "rich" $250,000-plus living on the edge, scared to death, stretched-to-the-max people in America to cover for the billions of dollars being printed and distributed before the ink dries. All of it to prop up rotten lending institutions and Wall Street crooks.
Don't worry, Obama supporters, there are plenty of McCain supporters who would qualify for my special little wealth tax. It's just that most of them aren't dumb enough to be proclaiming someone earning enough to support a family of four with a little spare change left behind as being "rich."
Oh, and one other thing. Oprah will really like this plan. The "O" loves to give things away. Based on reports of her net worth, she would be "donating" about $1.35 billion to the federal government.
Now wouldn't you love to see the smile she would be sporting on the next cover of her magazine after giving all of that away to her federal government? What, no grateful audience jumping for joy and throwing hugs and kisses her way? She might have to skip being on that cover. Perhaps there is value in my "tax the rich" plan after all. |