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.)) ;-)