[Censport]

Soak the rich? Americans say go for it
Surveys are showing overwhelming support for raising taxes on top earners.
Politico
By BEN WHITE
02/04/2019 05:15 AM EST

The prospect of 70 percent tax rates for multimillionaires and special levies on the super-rich draw howls about creeping socialism and warnings of economic disaster in much of Washington.

But polling suggests that when it comes to soaking the rich, the American public is increasingly on board.

Surveys are showing overwhelming support for raising taxes on top earners, including a new POLITICO/Morning Consult poll released Monday that found 76 percent of registered voters believe the wealthiest Americans should pay more in taxes. A recent Fox News survey showed that 70 percent of Americans favor raising taxes on those earning over $10 million — including 54 percent of Republicans.

The numbers suggest the political ground upon which the 2020 presidential campaign will be fought is shifting in dramatic ways, reflecting the rise in inequality in the United States and growing concerns in the electorate about the fairness of the American system.

“There is a deep wellspring in terms of perception of unfairness in the economy that’s been tapped into here that either didn’t exist five years ago or existed and had not had a chance to be expressed,” said Michael Cembalest, chairman of market and investment strategy at JPMorgan Asset Management who has studied the latest tax proposals. “This is quite a moment in American economic history where all of a sudden in a matter of months this thing has kind of exploded like this.”

More here.

[gravelrash]

People who support "soaking the rich" are bitter clingers. They want to continue down the path of servitude using other people's money. Trump is offering to renew the social contract and a return to individualism and entrepreneurship. I have no sympathy for those who "resist" opportunity.

[Dean Adam Smithee]

These idiots on the left act as if they want some sort of 'revolution' in this country.

They'd best be careful what they wish for; they just might get it.

[Coach]

Dean Adam Smithee, on 10 February 2019 - 05:20 PM, said:

These idiots on the left act as if they want some sort of 'revolution' in this country.

They'd best be careful what they wish for; they just might get it.

Careful they are not. It's coming.

[Censport]

Leave it to the DNC Marxists to turn envy from a sin to a virtue.

Like every other attempt to "soak the rich", the promised levels of revenue will not be met (See: Luxury Tax). The "tippy-top" are smart enough to hire people smart enough to find the loopholes.

[Ticked@TinselTown]

And the politicians who espouse this point fingers at THE OTHER RICH PEOPLE...

[moocow]

"Those who do not know history are doomed to repeat it." When the income tax was first enacted, it was a "soak the rich" scheme. How's that working out for everyone?

[Buckwheat Jones]

Censport, on 10 February 2019 - 10:38 PM, said:

Leave it to the DNC Marxists to turn envy from a sin to a virtue.

Like every other attempt to "soak the rich", the promised levels of revenue will not be met (See: Luxury Tax). The "tippy-top" are smart enough to hire people smart enough to find the loopholes.

They also have the means to liquidate their companies, cash out and move to the Caymans. It’s what I’d do.

[zurg]

Censport, on 10 February 2019 - 10:38 PM, said:

Leave it to the DNC Marxists to turn envy from a sin to a virtue.

Like every other attempt to "soak the rich", the promised levels of revenue will not be met (See: Luxury Tax). The "tippy-top" are smart enough to hire people smart enough to find the loopholes.

And who gets left paying the bills? Yup, it’s always the middle class, and if the expenditures are high enough, then the low middle and the upper poor also get taxed. And of course, the evil corporations.

It’s always the same and stupid voters don’t care.

[Taggart Transcontinental]

Well lets look at it from this perspective, a one time 100% tax on all money over 1 hundred Million dollars would be nice since most of these scum are marxist anyway. People like Pelosi can give up 40 Million of her bucks and donate that to the good of the nation.