Robert Reich is Chancellor’s Professor of Public Policy at the University of California at Berkeley. He has served in three national administrations, most recently as secretary of labor under President Bill Clinton. He has written thirteen books, including The Work of Nations, Locked in the Cabinet, Supercapitalism, and his most recent book, Aftershock. He writes and speaks frequently as a committed far lefter and idolizes class warfare mentality.
Robert Reich, Liberal slash Socialist, is representative of the thinking currently pervading our Democratic Party and some RINOs in the Republican Party. They are intent on taxing the rich as if that could possibly pay for their gluttonous feasting on the peoples’ money. There will never be enough money – there will be no end. We must draw the line in the sand. Every time we pull the line back, they will go for more, like hungry rats.
Reich, in accordance with the current class warfare thinking, believes the rich can never pay enough. In the following excerpt from his article of June 16th entitled, The Growing Desperation of the Don’t Raise the Taxes on the Rich Crowd, he clearly states that a 70% tax is reasonable (that is only Federal and does not include State, Local, Sales, etc.). This is worse than socialism as it deprives producers of their right to prosper freely. Mr. Reich wants them to work for nearly nothing – talk about a job killer.
Reich says, “…My proposed 70 percent rate would apply only to incomes over $15 million.
$15 million, Alan! (Editor’s note: this article is in response to another writer, Alan Reynolds, who criticized Reich’s goal of taxing people at 70%).
Under my proposal, incomes between $5 million and $15 million would be subjected to a 60 percent rate, and incomes between $500,000 and $5 million to a 50 percent rate.
Importantly, my proposal calls for a substantial rate reduction for families with incomes under $100,000. (Conveniently, Reynolds fails to mention this.) Editor’s note: That would be redistribution ala Karl Marx
Reynolds entirely ignores my central argument, which is that rather than depress economic growth, higher taxes on the rich correlate with higher growth…”
Mr. Reich’s article refers to some questionable growth figures to prove his point. He conveniently leaves out the 1.8% lousy growth figures under this administration.
Reich further states, Since the early 1980s, a larger and larger share of total income has gone to the top (the richest 1 percent of Americans got 10 percent of total income in 1980, and get over 20 percent now). That’s left the vast middle class with insufficient purchasing power to boost the economy – without going deep into debt. You know what is wrong with Reich’s thinking? The uber rich will do what they did during the FDR tax happy administration – they will send their money and businesses overseas (as they are doing more and more as we speak). They will be even richer with more money and jobs leaving the U.S.
It’s YOUR money when you earn it or inherit it. It’s not the government’s money. It’s not President Obama’s money. It’s not Congress’ money. Sure the government needs money for the protection and preservation of our nation, but our Founding Fathers never meant for them to be in charge of everything from our nose bleeds to whether or not you have a hot tub. If we let the government decide every aspect of our lives from the charities we give to or the wars we enter into, we are no longer a free nation.
The bottom line is all people should be taxed fairly. 47% of the people working in this country pay no taxes – that’s fair? Welfare has doubled under this administration and it’s not just because there are fewer jobs – this administration has raised the definition of what “indigent” means. A family of three making $60,000 can now receive Medicaid for instance. That’s not indigent, sorry, it’s not.
If Reich wants people to pay their fair share, why don’t we tax the 47% who pay nothing? No one – NO ONE – in our free country should pay a 70% tax rate. The rich aren’t draining other peoples’ money from the system if they make their money through hard work and ingenuity (as the overwhelming majority do)or even if someone gives it to them. If the rich didn’t make the money then the lazies, the freeloaders and the numbskulls would still not make the money – there would merely be more poor to feed off entitlements the government deems appropriate. Read Reich’s article here: Reich’s Hate the Rich Mentality