Tax the rich more than regular people (said Obama)

[AshburnerX]

Well, they do take home almost 60% of all the (reported/unsheltered) income. And I don't know exactly which first-world country they are going to flee to that's going to be as friendly to their accustomed lifestyle as we've been (Venezuela or Saudi Arabia, maybe?).

They'd risk becoming targets in those regions. To terrorist factions in Saudi Arabia and to the eventual next "people's revolution" in Venezuela. People talk about it happening here, but it's almost guaranteed to happen in Venezuela.

 

[Krisken]

They'd certainly have to spend more on security.

 

[AshburnerX]

They'd certainly have to spend more on security.

They'd have to spend a FORTUNE on it because you can't hire domestic security... they are simply too easy to bribe in that region. So you'd have to pay for your goons, their equipment, their living arrangements, their healthcare... having a private army is fucking expensive.

 

[GasBandit]

Something else from Forbes on the effect of changing tax rates -

In 1997, Congress was considering a cut in the capital gains rate from 28% back down to 20%. The Joint Tax Committee (JTC) estimated that as a result revenues would increase by $7.8 billion from 1997 to 1999, but the tax cut would produce a loss of $28.8 billion over the following 7 years, for a net loss of $21 billion over the 10 year period.

The actual numbers after the tax cut was passed showed an increase of $84 billion over the pre-tax cut projections for 1997 to 2000. Despite an almost 30% cut in the rate, capital gains revenues rose from $62 billion in 1996 to $109 billion in 1999.

Similarly, when Congress considered cutting the capital gains rate again in 2003, from 20% to 15%, the JTC estimated that this would cause a loss of revenue of $5.4 billion from 2003 to 2006. But after Congress passed the tax cut, capital gains revenues increased by $133 billion during those years, as compared to the pre-tax cut projections. As Dan Clifton of the American Shareholders Association said, “There is no excuse for this $138 billion error.” Capital gains tax revenue doubled from 2003 to 2005 despite a 25% cut in the tax rate.

Also, I never claimed to not be "right wing" I claimed that republicans aren't.

 

[PatrThom]

Something else from Forbes on the effect of changing tax rates

Already responded here as to why I just don't get how people could possibly think of this as "stimulus."

--Patrick