Saturday, March 26, 2011

The Rich Pay No Taxes? (Not!)

Here's an interesting article which you may not like. It contains facts. From... experts... experts with track records.

Personally, I like the article. It provides facts to debunk the myth that the rich pay no taxes. In fact, they pay the most, and our dependence on their volatile incomes have helped fuel the current economic crisis.

Big earnings are often tied to bigger risks and that is a recipe for volatility. When the income stream of the states is tied to a volatile funding source... busts happen! (And not the good kind.) ;-)

We don't lack good ideas. We more often lack the humility needed to trade in our myths for the math.

Read on: The Price of Taxing the Rich from the Wall Street Journal.

(On a more local note... flowers are blooming, trees are getting leaves, the lawn is turning greener. Spring arrived a month earlier here than in most places, and it is sweet. (Sorry.)) ;-)


  1. Very interesting Don. I'll take a look. Hope all is well :) Just wanted to let you know that you won over at WWP. Here is the link:

  2. @September: Thanks for stopping by. I just thought the article above was interesting because it contained some facts. New York State is in the processing of dropping its "millionaire tax." That may be a pretty good idea.

    Thanks for the "win" over at Write with Pictures. I had fun with that prompt. ;-)

  3. Oh, Don. Don't act like you have winter! ;-) But I do know it's been raining a lot there. That's a bummer.

    Just thought I'd stop by and say hi. Feel free to connect with me via my photography blog, which is where I spend most of my time...hint hint.

    Now I'm off to read the article. Math over myth, indeed.

  4. @SJ: Thanks for stopping by (and following). It's true, our winters are imaginary (although snow falls in the local mountains). It's soooo cold here! How cold? I can't wear shorts out in the yard past 6 pm. It starts to get chilly. (And my flip flops don't keep my feet warm.) Ahhh, So Cal in the early Spring! ;-)