Civilization and the One Percent

As a confirmed member of the Ninety-Nine Percent, I do not believe that the One Percent has too much money.  I think that it does not have money enough.

Even President Obama is unclear about his reasons for wanting to raise taxes on the well-to-do (the people with an income of $250,000 he regards as part of the filthy rich), the rich (the smaller millionaires), and the superrich (the biggest millionaires and the billionaires).  At times he enthuses about everything the federal government could do to help pay for schools, hospitals, scientific research, public works, and so forth, with the extra revenue derived from the wealthy.  In other moments, he makes plain that he thinks their money gives them an undemocratic (and, thus, supposedly “unfair”) advantage in power, influence, and the pursuit of happiness over their fellow citizens.  Still again, the President argues that everyone should suffer from the economic depression and his own disastrous policies for financial recovery (as if Warren Buffet would “suffer” from being taxed a third, or even a half, of his wealth).  In the 1960’s William Buckley pointed out that, if the total assets of every millionaire and billionaire in America were appropriated by the IRS, the sum would be insufficient to run the federal government for more than several months.  Probably even the ignoramus Obama knows...

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