RANDOM MUSINGS FROM THE TOP OF THE HILL

4/19/2011

WEALTH

Another thing bugs me about the rhetoric going on about taxing the rich.  Our president and his cohorts are always talking about increasing taxes on the wealthiest Americans.  They want to increase the income tax rate on those making more than $250K or some such figure.  What is wrong with these people?  Wealth is different than income.  Some wealthy people may be making a large incomes but some are not.  Some who make a large income are not wealthy.   If you had ten million dollars underneath your mattress and owned a twenty million dollar piece of property, you would be wealthy by my standards.  You wouldn't owe a cent of income tax.  Wealthy people figure out a way to reduce their income.  High income earners are our business owners and actually pay lots of taxes.   
:-)

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