Area Billionaire Threatens “Legal And Illegal Tax Avoidance” To Protect Comic Book Funds From Drum Circling Hippie Freeloader Idiots

“The only way to finance a big European-style state is to have it paid for by massive taxation of everyone, mostly the middle class. Right now, we are avoiding honest debate on this fact…The first truth is that the current tax rates cannot support the promises made to middle-class Americans. The most unaffordable items in fiscal projections are Social Security for everyone and government-sponsored health care for the middle class. You cannot preserve these even with Draconian slashing of military, infrastructure, welfare, education, and other expenditures. The second truth is that you cannot pay for the Life of Julia, or any vision of a cradle-to-grave welfare state, without massive and increasingly regressive middle-class taxes. The poor don’t have the money to pay for a European-style welfare state, and the rich, rich as they are, don’t have anywhere near enough. Not only that, it’s easy to tax middle-class assets and transactions — things like payrolls, sales, and real estate — but soaking the rich means taxing investments. Investments are complicated and can be restructured to minimize taxes. Also, investments are the lifeblood of economic growth. Raising significantly more taxes from the rich also requires higher marginal tax rates — and their rates are already quite high. High marginal rates distort the economy and yield less revenue than anticipated because they increase the rewards for legal and illegal tax avoidance…to achieve anything like the European-style entitlement state they advocate, we need to tax everyone a lot more, not just the 1 percent. Despite all the drum circles protesting the inequitable distribution of resources, the wealthy just don’t have enough. The middle class and even the poor must step up to carry more of the burden if this is our desired endgame.” [The American via Heidi Moore, related]

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20 Responses to “Area Billionaire Threatens “Legal And Illegal Tax Avoidance” To Protect Comic Book Funds From Drum Circling Hippie Freeloader Idiots”

  1. Guesticles says:

    You serious, brah? This all assumes I care to keep social security, medicaid/care, and every other useless entitlement program. I believe there's a fundamental flaw in that logic.

    -The Middle Class

  2. Guest says:

    For some reason His Cliffness stopped short of saying that only Captain America could save us.

    –Guy who doesn't understand why he holds back…sometimes

  3. Guest says:

    Sniff Swassness is the consummate American.

  4. Above The Law says:

    So what you are saying is that if I go bald, but grow a beard I will retain the same amount of heat on my head.

  5. Guest says:

    What Cliff forgot in his little rant is that we have a printing press here at the Federal Reserve, and any time we want, we can just print up the money to pay for everything. Yep, just as soon as we decide we don't want to borrow any more money, we can just fire up our printing press and pay for it all with new money. I don't see what could possibly go wrong.

    – Ben B.

    P.S. Did I mention that I have a printing press?

  6. Bacon Is Tasty says:

    I'm gonna have the american cheese omelette, with french fries……mozzarella cheese melted upon those fries…..and a snazzy cup of gray-vee on da side. And coffee…….real milk, none of that non-dairy farmer mumbo-jumbo.

    — Diner patron

  7. McLovin' says:

    I've got a boner!!!!

  8. Beef says:

    Can you make the font even smaller? Right now it's set for reading by ants. Please set it for bacteria.

  9. Taxed Brit says:

    Man has a point you should see the taxes we have on alcohol and gasoline….

  10. Puzzled says:

    I wonder why you snark this. It's so obviously the case.

  11. True Story says:

    this guy won Best Dressed Bear at the Castro Street fair in SF..

  12. Stark says:

    Obadiah Stane should worry about his own waistline

  13. sohbet says:

    telling these little stories, here's a good idea: Have a point. It makes it so much more interesting for the listener.