Millionaires and Taxes

[P5 Guy]

I think what Buffet and his buddies are saying is that they are so rich taxing them more will have no effect on their lifestyle and that of their kids, grandkids and great grandkids.

[charby]

Charby, what Monkeyleg was referring to was taxing the wealthy at 100% for the current year not being sufficient to put a meaningful dent in the current deficit.  He was not talking about confiscating all the wealth held by the rich to apply to the deficit or the national debt.

I can agree to that

[Lee]

Actual profits?  Really?  There are more major companies with offices overseas sitting on $billions of profits moved there, while reporting losses here, but still benefiting from residing and operating safely in the US, while US taxpayers keep up the trillion dollar tabs for everything else. And yes...it is Bush's fault.  Reagan knew better.