Eat The Rich VideoApril 15th, 2011 by Lee Eldridge
In my last post I pulled data from our history to illustrate how even very high tax rates on the rich do not lead to larger tax revenues compared to GDP. We’re tried it and it doesn’t work.
Another argument I’ve heard from the far left is that our country is not broke. We have plenty of money. It’s just that all of the money is being hoarded by the few at the expense of the many. I am open to the discussion that a large portion of our wealth is held by just a few people. And we badly need tax reform in this country. No, not just reform. We need a tax overhaul. But that discussion will wait for another day. Today we need to discuss this myth that if only we could take all this money from the rich we could afford our current level of spending. We could afford health care, Social Security, Medicare, Medicaid and much more. If you believe economists like Paul Krugman, we could afford to exponentially expand the government to take care of even more people if only the rich didn’t have all of our money.
You must watch this video from conservative Bill Whittle:
Now I haven’t fact checked every piece of information in here, but it’s certainly inline with the data I know about our wealth, our resources, the size of our federal government, and tax collections. I did some googling to see if I could find articles about the inaccuracy of this information. I didn’t find any.
Matter of fact, here’s an article from Walter E. Williams, a professor of economics from George Mason University discussing the facts in this video.
On a personal note, I do have one issue with this video. I’m not big into political correctness, but why is it OK to bash fat people? We can’t make fun of Jews or Muslims. We can’t make derogatory comments about blacks or Hispanics. As Kobe found out, we can’t use gay slurs in regards to officials. So how come it’s OK in our country to bash fat people? Whittle could have made this same argument without the personal comments about Michael Moore.
And thanks to Bruce for sending me a link to this video.