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Saturday, 3 October 2009

Tax the rich...er, ...from Rico

"Tax the rich" is one of those class-war/class-envy political slogans that plays well amomg those who are not rich and do not think of themselves as rich.

Our politicians know this just as surely as they know there aren't all that many rich people to tax.

There are a LOT more middle-class people, however, and together they have far more money in aggregate than the mythic 'rich' actually do. Higher taxes will have to come out of the pockets of the middle-class to have any meaningful impact upon our growing national debt.

Something else our political wonks know is that more people consider themselves middle- class than arguably are. They consider a LOT of the self-identified middle-class as "rich" and thus fair game to put into their tax cross-hairs.

Look at these countries by 'mean' income (in $):
Mexico 13,910
Fwance 33,850
Japan 34,750
UK 35,842
US 45,840

Wake up and smell the taxman. A lot of you (of us) are going to be paying higher taxes because you are above the mean (or average). Surprise!
- You mean that's not what you thought they were saying or telling you when you voted for them? Well, yeah...I guess they must have lied to you then, huh?

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