Class warfare in the United States is heating up again. As the overall economic pie shrinks, the poor are being taught to go after the rich and the rich are being taught that the poor are a threat. Lately, the calls to “tax the rich” have grown louder than ever. As thousands more American families fall into poverty every single day, and as U.S. government debt continues to soar, many are touting higher taxes on the wealthy as the solution to all of our problems. But is that what we really want to do? Will it actually solve our economic and financial problems as a nation? If you don’t have much money, it can sound very appealing when politicians say that they want to “tax the rich”. But unfortunately, things are just not that simple.
First of all, the ultra-wealthy and the largest corporations have become masters at avoiding taxes altogether.
You want to tax the rich?
How about General Electric?
They are rich, right?
They are also very, very tight with the Obama administration.
So of course they are more than happy to pay their “fair share” of taxes, right?
General Electric made over 14 billion dollars in profits last year but did not pay a single penny of that to the U.S. Treasury.