Thursday, April 16, 2009

One thing I was thinking about at the rally, was "you poor suckers haven't seen anything yet." This isn't going to be a bad year for taxes. The bill hasn't come due yet - the President and his merry band have been partying and scheduling for further parties on our credit, not our cash. For almost half of the country, the federal government doesn't tax us at all except for the entitlement payroll taxes. For now, they're concentrating on the capitalized classes.

Obviously, as Lady Thatcher once said, you eventually run out of other people's money. They can only float so much debt with foreign investment money until they'll have to start funding all of that debt. That means taxing the hell out of the rich. The rich will respond to incentives as the rich do, and will do their best to no long meet the official definition of "rich", which to coffer-minded taxmen, looks like taxable income streams. Y'all will recognize that particular situation under its suddenly-fashionable alias, Depression. Also, the taxmen will discover that there ain't enough rich to fund the new debt now that "the rich" has become a moving target. They're gonna have to re-define "rich" to include enough targets to make the game worth the hunt. Ten Years After had it wrong - it's "tax the rich, feed the poor, till we're all 'rich' e'er more".

The Great Re-Definition is coming. When it does, some people will want to know what happened, and how "we're" going to get out of this trap. The rest of us will already know what happened.

You eventually run out of other people's money.

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