Horner's Corner

Why Are We Afraid to Tax the Super-Rich?

by on Mar.14, 2010, under economics, politics

Why Are We Afraid to Tax the Super-Rich?


Here’s an American view on the current tax ‘n’ cuts issue:

We are told that we’re already living well beyond our means we’ve got to cut back on government programs at all levels. Meanwhile, the super-rich are still having a ball.

Our nation is already deeply in debt. How can we possibly afford to invest in our infrastructure, renewable energy, health care, our schools — and create the millions of jobs that our unemployed desperately need?

We are told that we’re already living well beyond our means — that entitlement programs like Medicare and Social Security will bankrupt us. Forget the solar panels, the smaller classes and the new jobs — we’ve got to cut back on government programs at all levels.

Meanwhile, the super-rich are still having a ball. In his annual shareholder letter, mega-investor Warren Buffett wrote, “We’ve put a lot of money to work during the chaos of the last two years. When it’s raining gold, reach for a bucket, not a thimble.” And Forbes Magazine adds, “Many plutocrats did just that. Indeed, last year’s wealth wasteland has become a billionaire bonanza. Most of the richest people on the planet have seen their fortunes soar in the past year.”

More via Why Are We Afraid to Tax the Super-Rich? | | AlterNet.

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