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The Fallacy of Redistribution

fbear163 Wrote: Sep 20, 2012 12:32 PM
The tax rate only goes to 50% on your earnings after $250,000 dufus. He'd still be paying 45% on the first $249,999 then 50% on anything above that. Based on your example.
The recently discovered tape on which Barack Obama said back in 1998 that he believes in redistribution is not really news. He said the same thing to Joe the Plumber four years ago. But the surfacing of this tape may serve a useful purpose if it gets people to thinking about what the consequences of redistribution are.

Those who talk glibly about redistribution often act as if people are just inert objects that can be placed here and there, like pieces on a chess board, to carry out some grand design. But if human beings have their own responses to government policies,...