Reader comment on: Two Really Good Ones on Taxes

Submitted by ben (United States), Sep 16, 2010 10:28

The wealthy have increased their share of the national income decade after decade, the tax system should become more progressive as a result. If these billionaires want to move to Western Europe and pay the same, go for it. If they want to move to a third world country and pay nothing, have fun with that. The middle class has gotten the squeeze since Reagan - globalization has not benefited everyone equally. Government should help restore some sense of balance so that hard work is rewarded, and a middle class lifestyle can live on. Our democracy depends on a healthy middle class.

Note: Comments are moderated by the editor and are subject to editing.

The Future of Capitalism replies:

Well what that Bernstein paper indicates is the middle class-- or at least the upper-upper-middle class -- are going to sell their family businesses in 2010 to Warren Buffett's Berkshire or Henry Kravis's KKR or Google or the like to avoid the tax increases on the way. How is that healthy? This doesn't hit billionaires -- it incentivizes the forces the ten-millionaires to sell to the billionaires and invest the proceeds in tax exempt T-bills and municipal bonds rather than growing the family businesses.

Other reader comments on this item

Title By Date
⇒ Good!
[w/response] [102 words]
benSep 16, 2010 10:28
So hit the billionaires extra hard
[w/response] [130 words]
benSep 16, 2010 12:26

Comment on this item

Mark my comment as a response to Good! by ben

Email me if someone replies to my comment

Note: Comments are moderated by the editor and are subject to editing.