Tax the Rich
Romney serves as an excellent example of the problem with today’s wealth-favoring tax structure: Romney paid a paltry 14% tax on $42.6 million of income over the past two years.
Aside from campaigning, how much actual work did he do? Probably little to none–in short, he just sat there as his assets made him more rich. What would he have done if his tax rate were 30% or even 40%? Quit investing and instead make no money? What a crock.
But wait, Republicans will say–the job creators need that money to create more jobs!!
OK, fine: exactly how many jobs did Romney create in 2010 and 2011? Directly, none. Not a single one. Indirectly? Not a single job more than if the money had been collected by the government and put towards, say, infrastructure or education. Had the income been taxed, in fact, the likelihood is that a lot more jobs would have been created–and that money would have been directed far more accurately at the American economy.
The value of enriching Romney is dependent upon Romney’s particular investments. Was the capital used to create jobs, or in the kind of destructive capitalism Romney himself used to engage in? Did he invest in American companies, possibly companies that maximized American profits?
Or did the money go to create more jobs in China than in the U.S.? Considering what American businesses are doing now, if Romney’s hoard actually did create jobs, they were far more likely overseas.
If it’s American “job creators” we’re supporting here, then how about a tax credit for actually creating jobs in America, and not just profiteering in a way that could potentially create jobs, probably more in other countries, as a by-product of getting even more filthy rich?
The whole “job creators” mantra is just as much a fictional piece of crap as everything else the right wing claims these days.
Tax the rich at 40% or even higher, pour the money back into infrastructure, education, and research, and the country stands a chance of coming back with a roar.
If you instead vote Republican and let the rich get off virtually tax free, you’ll get exactly what you deserve for being such a gullible rube: poverty.