This story was missing the point. President Obama released his tax return. He paid a lower tax rate than his secretary.
If you receive a high salary due to the State, your tax rate is mostly irrelevant. When State insiders pay taxes, it is merely a partial return of stolen property.
“High tax rates on wealthy people!” doesn’t hurt insiders. Those taxes hurt a successful businessman who’s growing his business.
Here’s a typical conversation between a CEO and his compensation committee.
CEO: How much should I get paid?
compensation committee: How much do you feel like getting paid?
If the CEO pays 20% more in taxes, he can just demand 20% more in salary. The cost is passed on to the corporation’s customers. The cost makes no difference, because the corporation has a State-backed monopoly/oligopoly.
That’s the reason CEO pay is so ridiculously high. It isn’t a free market. The CEO gets paid whatever he feels like getting paid. The cost is passed on to customers.
“Tax the rich!” in practice means “Tax a successful small businessman, preventing him from building his wealth.”
Here’s an example. Suppose you steal $100M via the State, and pay $50M in taxes. A pro-State troll says “That patriotic person paid $50M in taxes.”, but really he stole $50M. If the tax rate is increased from 50% to 75%, then instead of stealing $100M and paying $50M in taxes, he’ll steal $200M and pay $150M in taxes.
Warren Buffett is an advocate for high estate taxes. That isn’t patriotism. It’s selfishness. When a family has a successful business, they’re forced to sell due to estate taxes, and Warren Buffett is a buyer. Warren Buffett owns a bunch of small businesses inside Berkshire Hathaway. Warren Buffett also advocates high taxes on “millionaires”. High taxes prevent someone from bootstrapping a successful business, and competing with Warren Buffett’s businesses.
It is meaningless to discuss the taxation rate on State insiders. They are negative taxpayers. The real burden of “Tax the rich!” falls on successful businessmen who aren’t successful enough to buy their own Congressmen. High taxes prevent someone from successfully bootstrapping a small business, and competing with the State monopoly/oligopoly.