I really don’t understand the thought process involved in the government’s proposal to tax the rich. Everyone has about 70 years on this planet, and you either save for retirement or you don’t. Why should those that saved, be tax because others didn’t put money away for retirement? You want to drive a corvette and impress me with you wealth, don’t whine when you reach retirement age and have no savings.
My only question in life is, “Why do Democrats exist?” They want to give money those that never saved for retirement by taking it from those that did save. Notice you cannot take money from people who have none. And in this country, if you can prove you’re broke, you can qualify for government subsidies. How hard is that to do? They government wants to give to those that don’t have anything, and if you give everything to your kids, you too can qualify for benefits. In some families that might not be a very good idea. It could take only a couple of weeks to snort all of Dad’ IRA up your nose.
The neat thing about taxing the rich, is that the old rich have no idea what you are doing in a lot of cases. Senility has set in. Try raising the taxes on the middle aged. The only real way to do it is through inflation, the young people today don’t understand that concept, raising taxes they fully comprehend. Solar panels are selling like hotcakes because energy prices have “doubled” in the last 20 years. How do you connect the dots if you are 21 and someone tells you that cigarettes were 23 cents a pack 40 years ago?
Inflation is an "Old People's Disease." Congress's prescription; "Take two aspirin and call me in the morning if you're not dead. And in case you are dead, don't feel obligated to call."