Sunday, August 21, 2011

Taxman, Mr. Thief


Film Producer Harvey Weinstein (pictured) agrees with Warren Buffett about being under taxed.

I'm happy to make an investment in America - I don't look at is as a tax evil, I just say okay, if I have to pay a little bit more, we'll get it back just like when Obama saved the auto industry ... I agree with Warren Buffett. It's time to volunteer.

It looks like someone needs to look up the meaning of the word volunteer.

And the scientific community is united in that fact.

Weinstein recently volunteered to open his home and throw a fundraising dinner honoring President Obama where tickets cost $35,800 per person.

Why hasn't Weinstein held a fundraising dinner honoring the Taxman?

A new study, by the Tax Foundation, found that taxing millionaires at an effective tax rate of 50 percent would raise only $120 billion more.

The study also found, the only way for the government to solve its fiscal issues with revenue would be to confiscate every single dollar from every single American making $200,000 or more per year.

Of course we'd still be in a hole, because the government would still be spending money.

Over the entire post World War II era through 2009, each dollar of new tax revenue was associated with $1.17 in new spending.

Lastly, Weinstein may have watched too many movies --

It's not like paying more that you don't get it back ... You come in, you rescue the country, you help the country, and then the better economy means that more people go to the movies, more people buy DVDs, more people watch our TV shows and we get it back in a million different ways.

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