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Michael Bloomberg on Raising Taxes: What Would Santelli Think?

February 20, 2009 RSS Feed Print

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Mayor Michael Bloomberg on the radio:

One percent of the people that live in the city, the households that file in the city pay something like 50% of the taxes. In a city that's about 40,000 people so, you know, a handful left, any raise would make it revenue neutral. The question is, "What's fair?" If one percent are paying 50% of the taxes, you want to make it even more? A little over half the people, half the households who file tax returns don't pay any taxes. And about 30% of the households that file get a credit from the government. The government sends them a check. That's the Earned Income Tax Credit.

Me: Here is how the folks in Washington would answer Bloomberg's rhetorical questions: a) that they pay more; b) because we need the money and we think there are no ill economic side effects. Calling Rick Santelli!

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hotel tuerkei of 7:36AM February 12, 2010

In the Declaration of Independence, the founding fathers clearly spell out the inalienable rights of all people - Life, Liberty & The PURSUIT of happiness. Nowhere in the Declaration of Independence or the Constitution are promises and guarantees made that all jobs will pay the same, that no one will be allowed to fail and that everyone will be provided for by the government - that type of language exists in Marx's Communist Minifesto.
I found this quote from Dr. Adrian Rogers who at one time headed the Southern Baptist convention. And while I disagree with many of Roger's social views, I think he hits the nail right on the head as it pertains to taxation and wealth redistribution.
"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving.The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it."
We must remember that the government does not have any money. All of the money they spend they have taken from the tax payers. I find the notion that the reward for my productivity is being taken by the governemnt and use to reward someone elses lack of productivity abhorent and you should too!

Chris of GA 2:41PM March 26, 2009

you "personally believe that there needs to be a balance of policy that promotes capital accumlation to the point it can be best reinvested toward social progress-and no furhter."
Can you name a society that ever attempted that? North Korea comes to mind. Do you like the taste of tree bark? Or how about Cuba...wonder why all those people die attempting to swim away?
The miracle of capitalism is that it rewards each one of us to the extent we make ourselves valuable to the rest of society. Every transaction between free people has two winners and no losers: you want the shoes more than you want to keep your money, and the store wants your money more than it wants the shoes, so you trade. Both parties win and who is oppressed? I can never pay Microsoft enough to reflect the value of the productivity-enhancing tools they have provided me, while driving the cost of office application software down 90% since 1985 and dramatically improving the product. So Bill Gates is the richest guy in the world because he has provided more value to society than anyone else. How do I know? We voted on it--with our wallets. You sound aggrieved; perhaps you are fairly worthless to the rest of society, in terms of what we would voluntarily pay you. Try to improve your skills--it is worthwhile, at least until all benefit from self-improvement gets taxed away.

Marko Polo of NE 7:30PM February 22, 2009