One issue in particular that I am dead-set against is taxing the rich to feed the poor. This “spread the wealth” mentality is so laughable it isn’t even funny.
So what if the ultra-rich only pay 15% of their incomes as tax (that’s assuming they are only collecting income through the dividends from their investments and not selling any investments where they would be paying 20% tax, or actually still earning a salary, where they would be paying 35% on any income earned over $388,351/year.) Does that mean these people do not contribute anything else to the economy? At all? Do people honestly think they sit at home and hoard their money like Scrooge McDuck? The idea of that is completely laughable.
My fiance and I are at a level of income where we can now afford ourselves the relative luxury of having a housekeeper come to our house once each week and help us with our household chores. Some people may see me as a lazy person for doing so, but I see this is a win-win situation. I am providing income to people who need it and are willing to work for it, and they are providing me with a service I greatly appreciate. In fact I appreciate it so much that we pay them upwards of $20-30/hour (quite a bit more than “minimum wage”).
Another example would be a person that my fiance met at a casino in Las Vegas recently. He was one of the higher-rollers at the table and while he turned his $25,000 into $16,000 – he still generously was tipping the dealers at the table about $500/hour.
Besides that, folks who are well-off, wealthy or just plain stinking rich tend to spend a lot of money. They may spend only a fraction of what they have, but that fraction could easily pay the salaries of multiple people. In fact it often does. Once you get into the upper-echelons of income and wealth you tend to own really big houses. Big houses require a staff to maintain them -full-time maids, butlers, grounds keepers, chauffeurs, maybe even a chef or two. Each of these people earns a salary, and often a decent one (at least one that’s above minimum wage). These wealthy people are already “spreading the wealth” in their own way and on their own terms.
I have absolutely no intention of handing over more of my income to the government as I honestly don’t feel they would do the right thing with that money. They would be collecting it in the spirit of wanting to “spread the wealth” for more people, but in reality they would just line their own pockets with it.
Leave the wealthy (and those of us who aspire to be wealthy) alone, and we’ll spread our wealth much more effectively, and equitably, than the government ever would.