In response to:

Fiscal Cliff? Tax the Rich

bd-gslo Wrote: Nov 10, 2012 12:36 PM
Democrats are not against the rich. There is no real income gap between parties. Obama simply recognizes that the definition of "income" changes in relationship to wealth and the trend of rewarding wealth over work needs to be reversed in the tax code.
davidfarrar Wrote: Nov 10, 2012 12:50 PM
I don't understand your comment. Rewarding work instead of wealth creation will result in lower wages; IWT.

ex animo
bd-gslo Wrote: Nov 10, 2012 1:30 PM
I didn't say "wealth creation". You did.

The workers get their income through payroll. Over time as nest eggs are built their income shifts towards income from savings. The tax code was designed to allow these savers to pay less in tax on these investments to encourage savings. This is a good thing. The only problem is that the tax code did not take in to account an invested class that has never worked, who has built nothing and essentially lives off the work of others. The tax code also failed to deal with a baby boom generation in which more people would be retiring at the same time. This caused the rate of taxation in relation to wealth to fall to historic lows.
johnsnare Wrote: Nov 10, 2012 12:48 PM
bd-gslo Wrote: Nov 10, 2012 1:21 PM
It's been moving this way sense Reagan.

Barack Obama wants you to know that the rich are out of control.

And I partially agree. It’s a matter of fairness.

After thinking about it for a few years, he has finally figured out that our economic problems have a very simple explanation: There are too many rich people.

I know of at least one too many. The one occupying the White House? Way too rich.

(Editor's note: I'm taking a few days off. I'll see you guys again on Tuesday)

Too many rich people are causing a jobless “recovery.” Having too many rich people caused gas...

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