Rich Americans Need Your Help

Special Guest Blog/ Exclusive to The Big Picture Report

A Plea For Your Help, From People for the Ethical Treatment of Rich Americans

by List of X/ December 30, 2012

 

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Every day, the nation is creeping closer and closer toward the so-called fiscal cliff.  Going over the cliff will mean, among other things, that the Bush tax cuts of 2001 and 2003 will expire and marginal tax rates will rise for everyone, including the top 1% of earners.  Since keeping the low tax rates on the top 1% isn’t very popular with most Americans but favored among the Republican Party leadership, the GOP had recently formed PETRA (People for the Ethical Treatment of Rich Americans), to help advance their case for protecting the tax cuts for the top 1%.  Today, PETRA has released the following statement:

We realize that our name may appear similar to PETA (People for the Ethical Treatment of Animals), but our organizations are very different.  Unlike PETA, which  tries to protect all kinds of useless vermin, our organization’s mission consists of protecting just one very important and highly unique species, known to all of us as ‘Rich Americans.”

People sometimes think of Rich Americans as predators and parasites who only hurt others, but this is a misguided perception.  Rich Americans (Latin name Affluentis Americanis Jobcreatorius) serve a crucial role in a society by ridding it of its weaker and less useful members, and thus make the society stronger.  They accumulate excessive wealth from the rest of the nation, thus preventing inflation, and their wealth discharges (also known as “trickle-down”) provide rich nutrients to everyone near the bottom of the food chain. These trickle-downs help support millions of Regular Americans (Latin: Lazyus Moocherus Vulgaris). Finally, Rich Americans provide evolutionary inspiration to all other American species, and their flamboyant mating rituals (think Donald Trump or Kim Kardashian) are among the most awe-inspiring wonders of Nature.

Bush-era environmental and economic policies saw the population of Rich Americans increase to healthy levels.  President George W. Bush signed multiple laws aimed at protection of Rich Americans, preserving and expanding their natural habitats such as offshore tax havens, capital gains taxes, and carried interest loopholes.  However, several natural disasters, such as the housing crisis and financial collapse (for which Rich Americans were absolutely not responsible) resulted in the drop of their population to dangerously low levels. In the last couple of years their population had started to rebound again, but the improvement had been markedly slow.

Today, their way of life is under serious threat from the thoughtless actions of the Obama administration. As our nation approaches the fiscal cliff, all the conservation efforts instituted by the Bush administration will be reversed. Even if the nation’s tax collectors harvest just 4% more in taxes from the Rich Americans than they do now, it will have on profound effect on the behavior of Rich Americans.  They will become less active and their wealth discharges will become less frequent. And worst of all, they may migrate to more hospitable climates, and that will throw the entire American econ-system off-balance.

Please write, call, and e-mail your Congress representative and demand that they do everything in their power to keep the laws protecting the Rich Americans.  Act now!  Remember, destruction of natural habitats of Rich Americans is harmful to all of us.

List of X specializes in, well…lists of 10. His entertaining website is on the BPR blogroll.
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This entry was posted in Economics, environment, finance, government, inequality, political humor, politics, Republican Party, taxes and tagged , , , , , , . Bookmark the permalink.

7 Responses to Rich Americans Need Your Help

  1. Arlen Grossman, I know that in a marginal tax rate system you pay taxes on any dollar amount above a certain threshold. From a marginal standpoint, I do not believe the tax rate should exceed 20%. If that is not good enough, eliminate or cap most of the deductions to make up the difference. Even though I had offered an idea where capital gains was taxed on a sliding scale, even if I had to pay 20% in taxes on the potential gain, it would not deter me from making an investment if it still generated a sizeable return, ultimately resulting in more money in the long run. Here is a video for you: https://www.youtube.com/watch?v=XsZVTDdQvFY I do not agree with Rick Santorum on everything he says. However, this plan should appeal to both sides of the political aisle.

    • There are some good ideas in Santorum’s presentation, Jeffrey, especially the simplicity of it, and that capital gains taxes would be the same as other income.
      But I would like to see the finished numbers, because if it ultimately just helped the rich more than working people, then you would lose me. The part about repealing Obamacare bothers me, too, as that is something that has helped a lot of mid-to-low-income Americans. But still, I can see the appeal of this idea.

      • Arlen Grossman, if we had a flat tax where earned income and capital gains were treated the same, this would still technically mean that the rich are paying more. As far as estate tax goes, I say get rid of it. Quite honestly, I believe that people should be able to keep most of what they earn. Personally, I like Rick Santorum in a lot of ways. My only issues with him are his stance on foreign policy, which seems too interventionist, his opposition to gay marriage, as well as his stance on drug legalization.

        • I believe in a higher estate tax. When you say ‘I believe that people should be able to keep most of what they earn” let’s not forget that they are dead. Their heirs would be getting money they haven’t earned.

          • Arlen Grossman, no argument there. When I say keep most of what these people earn, which they bust their asses for, I was speaking of people who are among the living. If they want to pass that money onto future generations, as well as income that was saved after taxes I see no issue with that.

  2. Arlen Grossman, many factors can contribute to economic ills/woes. To scapegoat rich people is not an adequate solution. These people who argue for top marginal tax rates of 91% correctly note that it is a disincentive to sit on the money they have. However, to answer another argument that these people will make is that the wealthy people would put money that they would have paid themselves back into their businesses, as well as other things that give tax write-offs and have that money flow back into the economy, that point cannot be dismissed. My only real issue with the tax the rich crowd is that for the most part, these people want to mooch off of the labor of other people and feel like they are entitled to what other people have.

    • It’s not that complicated, Jeffrey. The rich have more than enough money (some even have obscene amounts, like Jeff Bezos). At the same time, millions in this country are hungry and/or homeless. The rich should be paying a lot more in taxes to help this huge inequality among Americans. They used to pay a lot more and the economy worked just fine.

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