Quote from Pa(b)st Prime:
One of the things younger leftists don't understand is those who're already massively wealthy are bulletproof from the effects of higher taxes. I posted this line before: Who is concerned more about top rates, Bill Gates or Phil Michelson? Many ultra-rich want to feel good by voting liberal. Like they're in touch and giving back. Guilt is an immense emotion. Those ultra-rich though probably don't work. Their income is unearned. If your dividend/interest income was in the tens of millions on holdings in the hundreds of millions would you care about an extra 5 million a year in taxes?
How about the entrepreneur (like traders) who only have one or two big years a decade? If your income is like this 60k, 90k, (30k), 195k, 620k, 85k then it matters a great deal how much of that 625k year you can pack away. In a weird sense the Democrats perfectly capture the new America. Put the poor on the public doll from the rich and let the middle-class fight from becoming poor without allowing them to become rich. High taxes on wages then become a de facto Caste system.
I agree with you about liberals who do not work for a living. Misguided guilt causes people to do, and vote for, very stupid things.
Personally, I believe the 250k mark is cutting it slightly too close. Where I live (coastal CA), >250k equating to rich doesn't cut it... I would put that cutoff at 400k or greater.
We've been under a caste system for a long time and I don't see a way out... I am libertarian in many of my economic views, but given a choice between these two candidates, Obama is the guy that stands out purely based on education and attitude. Maybe I am too young to see the redeeming qualities of McCain, but, so far, other than opposing "middle class" tax cuts at the expense of the rich, what are McCain's selling points versus Obama's?
