Apr 26, 2011 11:11 PM GMT
some guy said in 1999"I would tax people of wealth -- of great wealth, people over $10 million, by 14.25 percent. This tax would raise approximately $5.7 trillion, which happens to be our national debt. We would now save $200 billion a year in interest costs, which would go toward lowering taxes for everybody and particularly the working middle class, particularly; getting rid of the estate tax and saving Social Security. The economy would boom. We'd have no debt. Hey, I know about debt probably as much as anybody. I've had too much, and I've had too little. And you know what? Too little is much better, believe me."
Of course the 14.25% will need to be higher now, since the debt is >13 trillion. Or we can make it a 3-year tax.
But it would drive away the rich, right?
same guy in 1999"Well, I just think that the booming economy that we create by my plan would keep the money here because it's incentive. They're going to want to be where the action is. They're going to be -- want -- want to be where the good economy is. And they move their money around, hey, including me. You move your money around where the action is, and now it's a real world economy. But this country would be booming. We'd have no debt. It would be unbelievable."
Guess who said such ultraleft-wing things...and now says:During last year’s debate over the tax cuts, the potential 2012 presidential candidate was outspoken in his opposition to President Barack Obama’s effort to deny an extension.
“He’s taking away a lot of incentives from a lot of people that produce a lot of taxes,” [Mr. X] told Fox News, explaining that Obama’s proposal would drive the wealthy out of the country. “It creates the wrong image. You really have to keep the taxes down.”