Socialists Just Getting Started

Communists Marxists Socialists Progressives in Congress say they are just getting started.

A group of House Democrats has formed its own “Gang of Six” to push for progressive tax reform — in which the expiration of the Bush-era tax rates for the wealthiest Americans is “just the beginning.”

What’s next on their crypto-Marxist agenda?

“To maintain or strengthen progressivity, we should end one of the leading contributors to after-tax income inequality in this country, the special tax breaks for investment income,” the group said in its statement, released Thursday. “Workers who get their salaries from wages often pay a higher effective tax rate than wealthy individuals like Mitt Romney and Warren Buffett who make most of their income from selling stocks and bonds or from dividends.”

As this table shows, the capital gains rate has no meaningful impact on the amount of taxes collected by the government. Investors simply scale back investments when the rate is higher and ramp them up when it is lower and the amount of revenue stays stable.

For revenue collected to stay stable when rates increase, investment must fall dramatically. That is not disputable.

The progressives’ plan will absolutely, positively reduce the number of viable business plans, reduce investment, reduce hiring, increase unemployment and add no tax revenue to government coffers.

You will notice, however, that they don’t even attempt to claim that encouraging investment, job creation or increasing tax revenues are goals of their plan. That is because they aren’t. The only goal they have is “fairness” and they define fairness as an “equality of poverty.”

These people are evil.

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5 Responses to Socialists Just Getting Started

  1. TN-Cat says:

    Yes they are evil and I detest these people almost as much as I do the bulk of our media that lies and covers for them.

  2. Trent says:

    That chart is so brilliantly simple to understand that it really does reduce the counter argument into straight silliness territory.

  3. TN-Cat says:

    To show the real meaning of this graph there should be. A third line showing the unemployment rate.

  4. Chip says:

    Eliminate the top 1% and what happens? Kill them all off, whoever they are. Take all their stuff and redistribute it among your own friends. All of it. And then what happens? Automatically a new top 1% appears in their place and there you are again still on the attack. Endlessly until that fateful day there are only 99 of you left and you can no longer so easily execute your executions. The question that appears at the end is there at the beginning but it does take a communist type mentality to keep on obsessing over unfair income gaps.

  5. fubar says:

    problem with attacking the “rich” -
    the politicians that keep proposing this exempt themselves –

    most of them have been fattening themselves at the public trough for decades

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