Blasting Mitt Romney for refusing to apologize for being rich, King writes:
I don’t want you to apologize for being rich; I want you to acknowledge that in America, we all should have to pay our fair share. That our civics classes never taught us that being American means that—sorry, kiddies—you’re on your own. That those who have received much must be obligated to pay—not to give, not to “cut a check and shut up,” in Governor Christie’s words, but to pay—in the same proportion. That’s called stepping up and not whining about it. That’s called patriotism, a word the Tea Partiers love to throw around as long as it doesn’t cost their beloved rich folks any money.
King, and other liberals like him, fail to ever recognize or acknowledge that what we have is a spending problem. Let's address that little problem before we start hammering the top ten percent for more dough.
Revisit this article from the Wall Street Journal a year ago which points out that the top one percent pay 38% of the taxes in this country. Nearly half of the American population pay no income taxes whatsoever. You want to talk about paying your "fair share"? What's "fair" about that?
King points out that the uber-wealthy voluntarily donate millions each year (himself included) but fails to address the issue of Apple shaving billions off their tax bill by taking advantage of legal loopholes and funneling their dough overseas. Their tax bill is about 9.8%. Not bad. Paying their "fair share," are they, Mr. King?
In truth, if the rich were taxed at 100% they wouldn't be able to cover the grand entitlements expansion that Obama has saddled us and the next generation with, and that is, as the Wall Street Journal points out, BEFORE Obamacare kicks. in.
It seems to me that King's (and others like him) criticism is misguided. Instead of taxing the rich even more we should expand the tax base - create more tax payers. Get more people paying into the system. Creating jobs would create more tax payers.
One of the biggest problems with the Obama administration is that it kills jobs. Do we need a list? Start with the Keystone pipeline. Energy crushing EPA regulations have shut down coal fired power plants and cost jobs. The Gulf moratorium cost countless jobs and not just in the drilling sector but on land too in all those businesses that cater to and support the drilling industry. Need I go on?
It doesn't take a rocket scientist (oh and we killed those jobs too at NASA) to figure out that businesses aren't hiring because of the crushing Obamacare mandates coming down the pike. If you keep an employee at part-time you won't have to pay for his hip replacement later.
When did it become a crime to be rich in America, anyway? Instead of falling into Obama's class warfare rhetoric, Mr. King should stick to his writing career. Then he can make more money and pay more taxes.
(Graphic from Heritage)