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Author: fleg9bo Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 745016  
Subject: Let's tax the rich! Date: 11/7/2012 11:45 PM
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http://pjmedia.com/instapundit/

Want to change the direction of the debate? Let's talk about actually taxing the wealthy.... The conversation MUST change. There are dozens of potential revenue sources within the wealthy that would easily triple the income to the US over penalizing hard workers. And then, we'd see the true colors of the Dems, the Streisands, Spielbergs, the Soros.

Hundreds of billions can be generated, by taxing a very small portion of muni bond income. And it wouldn't change their desirability since even after a SMALL tax, it beats everything out there. Guess who owns munis? Feinstein, Spielberg...

In essence, this is the only way out of the punitive tax brackets we find ourselves in. And even if it makes little economic sense, just hearing these jerks whine about a tax on THEM, just for a bit, would be hilarious.
____________________

I believe a wealth tax is unconstitutional. But I like the muni-bond tax because it would put an even bigger strain on CA and IL, my two favorite states. Hundreds of billions? I'm not so sure, but I'd love to hear Kerry squeal.

--fleg
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Author: CCinOC Big funky green star, 20000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 653704 of 745016
Subject: Re: Let's tax the rich! Date: 11/8/2012 12:24 AM
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Actually, no. Taxing the wealthy would accomplish nothing. There's not enough of them to make the degree of difference that $15 TRILLION requires.

Eat the Rich!
http://www.youtube.com/watch?v=661pi6K-8WQ

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Author: wolverine307 Big funky green star, 20000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 653736 of 745016
Subject: Re: Let's tax the rich! Date: 11/8/2012 7:46 AM
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Tax the rich
Feed the poor
Til there are no
Rich no more.


http://www.youtube.com/watch?v=jzrUqAtUcpU

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Author: ResNullius Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 653741 of 745016
Subject: Re: Let's tax the rich! Date: 11/8/2012 8:22 AM
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I believe a wealth tax is unconstitutional. But I like the muni-bond tax because it would put an even bigger strain on CA and IL, my two favorite states. Hundreds of billions? I'm not so sure, but I'd love to hear Kerry squeal.

Think about Romney's proposal not to tax interest, dividends, and cap gains for folks with adjusted gross incomes below $200K. This would cause the issuers of tax exempt bonds to increase the interest rate in order to get folks to buy the bonds, since interest from regular bonds, dividends, and cap gains would be tax exempt too. Of course, Obama won't do this, because it would benefit the Middle Class, which is the group he is out to screw the most.

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Author: ascenzm Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 653742 of 745016
Subject: Re: Let's tax the rich! Date: 11/8/2012 8:25 AM
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But I like the muni-bond tax because it would put an even bigger strain on CA and IL, my two favorite states. Hundreds of billions? I'm not so sure, but I'd love to hear Kerry squeal.

--fleg


fleg,

Your proposal would force me to liquidate my two muni funds and buy corporate bond funds. I have about 20% of my portfolio in munis. Oh well that is the price I would have to pay to see the rich libs squeal and the CA/Ill local governments squeal.

Mike

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