The Rising Influence of Rising Affluence

[jbog]

[OT]—How the death tax affects GDP growth

Very interesting and logical article.

I'm very confused when these politicians continue to demand that people pay their 'fair share'. They seem to always seem to link that fact that if someone pays more that they can start another give-away program. Are they not aware that we are running somewhere in the area of $550B a year in deficits? Maybe we should get a handle on that first.

When we talk about the deficit (not the debt) we could confiscate all the assets of Gates, Buffett, Bezos, Zuckerberg, Ellison, Bloomberg, both Koch's, Page, Brin and the 3 Waltons and we could cover the deficit for year one. We could them continue to confiscate the rest of the Billionaires and they would be exhausted before year 3 is over. Then we can go after the Millionaires and that'll last into year 6.

As far as the debt goes we'll have to depend on you to cover that. If you fork over $1000 a second ($86.4 Mil/Day) you'll have the principal covered in 634 years.

Good Luck