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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (210771)	12/6/2012 8:38:49 PM
From: cosmicforce	Read Replies (1) \| Respond to of 543162

We have to go after the rate of burn. My last sentence says it all - whether we decide to tax the rich or not (I think we should), we have to go after the rate of burn too. The combined wealth of all 400 billionaires is about $1.2 T. A 3% tax of that is "only" $36B. We are running at a deficit very close to that of the total wealth of the 400 richest people EVERY YEAR. That simply can't continue. It may make us feel better (and is structurally better for the country if we make them 'not so rich') but there is not enough money out there to have us running the way we are. We in the center or left better come to terms with that or we'll fall like Argentina in the 80's with either hyperinflation or something worse. Quote: "Money is like muck, not good except it be spread." (Francis Bacon)