IMF: Taxing the richs is good for the economy

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Only 1%?! Looks like we're in the wrong business, then....

If you honestly believe the reason the economy sucks is taxation you need to seriously quit being so naive. Where does all the money go? It gets pissed away into a black hole because mints print plenty of it. Ask yourself where it goes. It doesn't just recycle over and over, some of it goes away completely never to be seen again. You do not take this fact into account. Whenever some of it gets pissed away it creates this space where there's no money and that's quite a few spaces. Put them all together, they add up. Soon you have this vacuous space where there's nothing and the economy doesn't make up for it.

If we were to take all the money in print and put it in the economy, there would never be any debt.

The U.S government DOES piss money away like water. If you'd ever worked for the government or a government contractor you'd know.

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It's a small amount compared to how much money just disappears into thin air every year. That's money that could be recycled back in.

^^^ All that contractor and even welfare money that the government spends GOES INTO THE ECONOMY.

It's the money that sits collecting dust in off shore bank accounts or invested in weird derivative funds that starves and hurts the real economy.

Tax that money that the rich are hoarding and get it into the hands of SPENDERS--middle and working class people--if you want to stimulate growth.

I think I am misunderstood.

There is no one left to tax, except the rich, and the net worth of people and corporations.

Making Social Security tax the same on all income, instead of the $100,000 cutoff, would keep it solvent.

Several more higher brackets, Over $5 million, over $10 million, high enough that no accountant can make it go away.

All deductions should go away over a set level of income.

A 1% tax on Securities trades, would bring in a lot.

A tax on Net Worth would bring in a lot. Land is taxed, all assets could be.

Next problem, it should not go into a general fund. Government rises to the amount they can spend.

It should go to pay debts, nothing would make a sound dollar like no National Debt, and into Trust funds where the income is spent on national projects, education, healthcare, and new transportation.

This would be a sound base if we ever needed to raise funds for a war or other disaster. Those items should stand alone, and taxes should be raised again to pay them off within ten years after the war.

Also, the oil belongs to the citizens. Norway puts all oil income in a trust fund, that now owns 1% of all World Securities, and the income pays for education, health care, and welfare for the citizens.

Alaska sends each citizen a check for oil royalities.

Washington gives away the oil and gas to their friends. They also give away the National Forests, and the Public Lands.

When each generation steals from the next, it gets worse and worse.

The point of government is to plan for a better future.

Sound money, ample reserves, and a healthy land and people are good for the economy.