Don Feder: Tax the Rich Until There Aren't Any Left

Free Republic They say you get less of what you tax and more of what you subsidize. The left feels there are still too many producers in this country. But it has a solution – tax them into extinction.

Increasingly, the Democrats and their stooges sound like villains from an Ayn Rand novel – Wesley Mooch or Lee Hunsacker.

Posturing at a Democratic rally in Sarasota, Florida last week, horror-writer Stephen King announced, “As a rich person (not to mention a monument to the public’s abysmal taste in 'literature’) I pay (a) 28% tax. What I want to ask you is why am I not paying 50? Why isn’t anyone in my bracket paying 50(%)?”

Perhaps that’s because Cujo-boy isn’t paying a 28% federal tax.

King has an estimated net worth of $300 million. As the author of 49 novels, which have sold over 350 million copies, royalties alone would put him in the top tax bracket of 35%, which starts at $373,650. But since his taxes are probably handled by a phalanx of accountants and lawyers, perhaps he can be forgiven for thinking that he and the rest of the “super-rich” pay a top-rate of 28%.

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