Let’s Tax This Group of Rich Americans

June/04/2011 17:32PM
Write Comment
Please follow and like us:

Obama’s solution to the debt ceiling, the deficit, and excess government spending and regulation is to raise taxes on the rich. Don’t cut spending, downsize government, roll back regulation, just tax the rich. That will fix everything. It will fix the housing market.(how). It will fix unemployment. (how). It will fix the budget, even though statistics show if they took all the money his so-called rich have, it wouldn’t put a dent in the budget problem.

Well, not to be outdone by Obama, I have a tax solution to the budget problem. And, I think mine will fix many problems.

Let’s tax campaign contributions. It would work like this. You pay a flat tax on campaign contributions you spend during an election cycle. An election cycle, as defined by the period from your last election to the current one for incumbents. All others, between the time you announced for office until the election. Let’s not be greedy like Obama wants to be with the rich and collect over 50%, we’ll just take 35%. Now all you democrats who like estate taxes so much, line up and support this. With estate taxes, it’s pure double taxation and you don’t mind that a bit. The estate paid income taxes, capital gains taxes, interest income taxes, and dividend taxes on everything in the estate once. You still think it’s fair to grab another 50% when the estate is probated. With campaign contributions, the politician paid no taxes and really didn’t do anything to earn the money, so why worry about taking a mere 35% for government spending.

When the campaign is over, win or lose, whatever is left over goes to the government. Right ,100% of all of it. Any politician in the country holding campaign funds in trust will have to give all those funds over to Uncle Sam. Now. Local, state, and federal.

You see, we have no idea how many billions in campaign dollars are just sitting around like cash in the bank for the person whose trust controls that money. Need a new car, just dip into the funds. New yacht, just dip in. On your last term in office, campaign hard and spend little. Those funds will be part of the retirement. Along with the generous retirement taxpayers provide and the medical plan that is the envy of the world.

You see, this is even better than term limits. The playing field gets leveled every election. No one is sitting on millions they can use to insure they will win every election. Everybody stats fund raising at the same time. And, if you raise a lot, you will pay more back in taxes. Again, leveling the playing field.

How many sleazeballs will retire from politics if they don’t have their little $5-10 million petty cash fund for life? How many will lose, that would have won if they don’t have a multi-million dollar war chest to keep their job?

President Obama and democrats like taxing the rich so much, let’s tax the political rich. We would probably make more the first year than if he got his tax increase on everyone who makes over $200K, if we did this. Just think, 35% on all that dormant campaign money lying around the country being used by rich politicians for cars and yachts.

This is one tax idea I can buy into.

Please follow and like us:

Other Articles You Might Enjoy:

  • No Related Posts

Leave a Reply