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Have Europe’s wealthy jumped the shark?

Tax Me More, Europe’s Wealthy Say – NYTimes.com. First it’s Warren Buffett, now this.  For most of these folks (check the article), they have the option of paying more if they really want to, so why don’t they?  Hitting the super-rich with more taxes plays well at cocktail parties and down at the union hall, but it has no real benefit in terms of easing government deficits long term.  That’s because even if we flat-out confiscated all the money the glitterati have, it wouldn’t go that far.

Real fiscal reform that’s long lasting is what’s needed, and it simply means the government stops spending and stops casting smaller increases as “cuts” in the budget.

This article is, in our opinion, a semi-fabrication in service of a political agenda, and it’s a drumbeat the NY Times has been playing for a while now . It’s goofy on its face — if the super rich want to be taxed more, they can simply send the IRS more money.  But they don’t.  So how serious can this be?

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