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Saturday, July 9, 2011

Incentivisizationate

I think I've found a way to get the economy going via the tax code. The hyper-rich are notoriously creative and well resourced. They enjoy their status, opulent homes and vacation palaces. They lavish their wealth on their children, grandchildren and great grandchildren with the purpose of continuing the family estate and place in history. My idea is to tax these people to the bone and force them to grow their enterprises to maintain their lifestyles. There is little risk in holding up in their estates and gated communities waiting the great recession out. We must also enact a property tax on their holdings both real and chattel, tax attempts to hide income offshore at 200% of the amount involved. This sounds draconian, but it would force the economic overlords to pump their fortunes back into the economy, and both restore the economy and pay off the debt. What's not to love? A second leg of this proposal is a 30% flat tax on imports, including oil. This would be a bit tough on the Saudis and Chinese, but thems the breaks.