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Redistribution of Wealth Popularity Not to Be Taken Lightly

Eugene Patrick Devany Wrote: Apr 20, 2013 5:17 PM
The tax code has redistributed wealth to the top with $1.2 trillion in annual tax expenditures that mostly help people that really don't need the money. Between 1995 and 2010 only the top 10% gained wealth and the bottom 50% of the population lost so much that they have only $3 today for every $10 they had in 1995. We need a re-redistribution of wealth. The tax code needs to include net wealth as an adjustment to income tax liability. A 2% net wealth tax could replace the regressive, job killing payroll taxes. More at TaxNetWealth.com

A Gallup poll released this week shows that almost 60 percent of adults in America believe that wealth is distributed unfairly, with over 50 percent saying that "the rich" should be taxed heavily to accomplish a fair distribution of resources.

This news coincides with reports that the economy may well be starting to sputter and with the nation once again gripped by acts of terrorism. The results of this poll are stunningly ominous for our future as a nation that in any way will resemble what most of us have grown up knowing.

This is how we got there.

First,...