“Wealthy is a sign of success that will translate to being a successful president.”
Mitt Romney, Inequality Candidate (Flickr.com)
Bloomberg writer, Michael Kinsley, asserts that Edward Conrad and Ayn Rand would approve of presidential candidate Mitt Romney for being successful.
“Assume people have earned their wealth if their contribution to society outweighs the contribution to their own pocketbook” – Michael Kinsley.
I’m not exactly sure how to numerically measure the value received by entrepreneurs benefiting from U.S. society. Namely, benefiting from not being invaded, having businesses protected from marauding militants (think South America), benefiting from infrastructure [both physical (improving roads/bridges) & educated labor force], innovations from past generations, scientific and technical knowledge not contributed to by current “primary” beneficiaries of society… uber rich, and public investments from past and present generations.
For sure, benefiting from public contributions so heavily and paying as little as 13.9 % in taxes to at least maintain what was taken (see comedy clip below), used or borrowed from the public coffers doesn’t add up!
While Romney and Bain capital are benefiting from pillaging U.S. companies on U.S. soil, millions of dollars are siphoned to the Caribbean to avoid U.S. taxes legally!
As outlined in the DailyShow satire clip below, Mitt Romney pays so little taxes because Bain Capital lobbied to pay low taxes. Even GOP Congressmen were in favor of raising taxes on the über wealthy and restore “old tax rates”. The lobbying clout of Bain capital trumped bipartisan efforts to reach a tax middle ground. A middle ground that would have reduced the national deficit.
Over the last 30 years taxes on the top margin and the über rich have dropped 50%. At the same time, income for the top marginal rates have gone up over 300 %. Ultra rich have seen their incomes go higher. While income for the working poor and middle class have gone up less than the rate of inflation.
It would make for an interesting election year if Mitt Romney campaigned on his idol’s principles. Inequality is good!
John Stewart said, “the poor have sh*tty lobbyists”. Let’s see.
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- Total Tax Collection of Rs.3,12,000 crore comprises Rs.18,000crore of ‘unwilling’ amount
