Tuesday, January 22, 2013
Cry me a river, Phil.
Recommend this Post at Progressive Bloggers | 4 comments
Its going to be interesting to watch this "tax the rich" obsession over the next decade. Mickelson probably paid 15million in taxes last year, but, he's being told its not enough, he paid enough last year and the year before to build and run 30 municiple golf courses, but, its not enough I guess. Its not the amount the uber rich pay in taxes, its this relentless demand over the past few years for them to pay more, almost as if to punish them.
You could tax the very wealthy 75% and it would not even come close to solving the economic issues facing California or the US, and, you can add Ontario to that list.
Mickelson could have said it better and he does come off as whining, but, what exactly is the point of tacking on another 4% to his taxes? He could move, or, he could spend less on his charity work or, scale down his events and earn less. Its not what he pays in taxes that is the issue, its this bizarre idea that making the rich pay more well actually help, and, it wont. The best explaination I've heard about failing economys is this, imagine your bathtub is filling up and your trying to stop it from filling by using a tablespoon to empty it while it fills. Taxing Mickelson or any wealthy person more and more and more and thinking it will help is simply dumb.
By 5:36 AM, at
Heh. If he paid $15 mil in taxes last year I'me the Queen of Sheba.
Taxing them "more"? They could hardly be taxed any less.
Mitt Romney paid around a 14% tax rate in 2011 ($1.9M on $13.7M income), after overpaying to keep his tax rate above 13%.
An average family in the US making around $50k pays about 25%.
Who's paying their fair share, again?