Tax the Rich? How's That Working?

RealClearMarkets.com

When David Paterson became governor of New York after Eliot Spitzer's hooker escapades, the former state senator from Harlem shocked New Yorkers by declaring that taxes were too high and that he had many friends who had left the state because there were better opportunities elsewhere. ...

You could confiscate the entire wealth of the top 50% of tax payers and it still wouldn't come close to paying off the debt of the federal government, let alone that of the states or local governments. Then you still have to worry about how you are going to pay for the current spending. Here's a simple economics lesson for those that may have skipped that part of their education. The more you tax/levy "fees" on/or whatever other term you chose to use on production/investment by an individual the more disincentive there is on that activity. Also, when was the last time you saw a "poor" person create jobs?!

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