first, they came for the rich

Reader comment on: Taxing the Rich and the Rest

Submitted by Ford Lacy (United States), Aug 7, 2012 18:06

i read today that president hollande's plan in france to increase taxes on the rich is really just his first step in cutting benefits for the middle class. apparently, he feels that he needs to hit the rich harder in order to take less heat when he hits the middle class harder. hollande's taxes on the rich alone will not solve his problems.

if federal spending continues to increase as a percentage of gdp, taxes on the rich will not be enough. i heard one commentator on cnbc suggest that he would like to see federal spending at 50% of gdp. to achieve that level of federal spending, massive tax increases will be required, probably even on the poor.


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Title By Date
Astute analysis [56 words]Harry BinswangerAug 7, 2012 23:24
⇒ first, they came for the rich [119 words]Ford LacyAug 7, 2012 18:06

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