Soon-to-be excommunicated conservative Ben Stein summons the ghost of Paul Tsongas. But this time it’s not just the Democrats wanting to play Santy Clause.
He said it plain as day – entitlement reform. Raising taxes without serious entitlement reform is a worthless gesture.
But he also said taxes must be raised. Neither side strikes me as particularly serious about really reducing the debt. Raising tax rates on true millionaires — noting there’s a major difference between those who make $250,000 and $1 mil — not for fun, or because they owe us, but out of necessity.
I disagree with him on only raising money on millionaires as there is not enough money there to only focus on millionaires. Even if we confiscated every millionaires money that would still only be enough money to last the US about a month – if that. I pay 50% of my income in taxes – income, property and sales – how much more is enough to satisfy the needs / wants of government. Plus the super rich are in a position to leave the country and move their residences to a more tax friendly environment like Hong Kong for instance.
i hardly think we’re going to see a migration of millionaires to Honk Kong, part of COMMUNJIST China, just bec. they have to pay extra tax. It’s not to punish anyone, it’s to sustain our economy. Ben Stein is a conservative economist and a millionaire so I think his words carry some weight.
I agree it carries weight, but millionaires no, but billionaires yes and international money absolutely. Income tax hikes historically lead to lower growth. Sustaining the welfare state at its current levels will have the US looking Greek and Irish sooner rather than later. I just read that some states are already thinking of declaring bankruptcy to get out of pension commitments – CA will probably be first. Should be an interesting 2011.
I’m for helping “responsible” government – in it’s current state…
I guess if you would close ALL loopholes you would collect more taxes, than tax everyone over 500,00 $ income at the same level as was under Clinton. Also, tax ALL churches since churches are nothing but companies (see Scientology or churches like Eddie Longs). However, whatever money is spend in charity (acknowledged charity) can be deducted, but that exists already.
ATL Contrarian 
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