Friday, February 14, 2014

Extinction of the One Percent, The Obscenity of massive wealth.

The nightmare for multi-billionaire Tom Perkins, that taxes are like the mass murder of Jews by the government, needs to be made a reality (not the murder part, the extinction part) Wealth as obscene as his deserves extinction. It's distortion of democratic process, it's celebration of pure greed and lust for bully control of the lives of others does deserve extinction. They don't have to be murdered in their sleep to accomplish this. They only need to be taxed, and taxed heavily. Let's start with the dreaded "Death Tax", or in more legal language, the "Estate Tax". If they knew it wouldn't be around after they die to impress their postmortem will on the world they think they own, maybe they'd spend some more of it when they're alive. Perhaps, there should be a cap on how wealthy  you can get. Say, a progressively higher marginal tax rate topping off at 96%  on any and all income above 50 million.  These suggestions are no more harsh than ones that have actually been law in the past, before the hoarding of massive wealth allowed them to buy enough politicians to destroy democracy.
OK, so if we're revising the tax code let's bring back income averaging. If a hit album earns an artist $100 million one year and only $1000 each of the next 4 years let them average it for tax purposes (this used to be the law). Oh, and tips to waitstaff or street performers are not earned income. They are gifts. If it's optional, it is a gift! (A personal peeve I've always had with the IRS. What? Waitresses and street beggars are sucking the life out of the economy by not paying taxes on their millions from tips and charity).

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