Originally Posted by The Brandon Five
You're smarter than this. The $1.7 trillion is not the income of the Forbes 400. It's their net worth.
Although those 400 people probably have a pretty big chunk of the total pie, they also represent a pretty high cut-off in terms of both income and net worth.
It's a pretty pointless argument. Nobody's trying to "confiscate" either their net worth or their entire incomes. And nobody in his right mind thinks the goal is to get a budget that zeroes out right now
with our present aberrantly low revenue collection (15.5% of GDP.)
You've got to do cuts and
revenue if your concern is debt and deficits. And you start on revenue at the top. We just voted on this.
At least that's made Grover Norquist increasingly irrelevant as all Republicans acknowledge that they will
have to raise more revenues. Now they're trying to mollify him by saying "but but but it wasn't a raise in rates...
Ask yourself what's magical about rates versus other revenue-raising. The answer is it allows Grover to say the pubbies are still okay and they did tax reform with a gun to their heads.
Same reason the Administration says "Nah you know, we're going to do rates. Just like we voted for."