Savvy Trades and Investments

[Mermelstein]

I’m by no means “rich”, but I am in the top 1%. If they start taxing my gains at 40% plus a 3.8% net investment tax plus the 13.8% SS tax they’re floating, plus state and city taxes, do people honestly think I’m going to risk my money to keep 40% of it? I’d do 1 of 2 things...I’d either just fold up my tent and retire, or I’d leave the country and go to the Caymans or a host of other countries where they don’t penalize you for working hard and being successful.

This “attack the rich” strategy has been tried by every socialist/communist regime throughout history. It makes for good politics to rile up the masses (because 99% of people aren’t in the top 1%) but it never works in practice. Capital goes where it is treated best. It’s not the rich people who are the reason the country is in dire financial straits. It’s the 50% of people who pay nothing in taxes, and take. If you want to point a finger at someone, point it at the useless eaters. But calling it like it is doesn’t fly in this participation trophy society. It used to be if you didn’t work, you didn’t eat. Now it pays to just live off other people.