FactReal

QUICK FACTS: Politics, News, Economy, Religion, History…for busy people!

MICHAEL MOORE IS WRONG – Confiscation of Wealthy Americans’ Money Will NOT Work

Posted by FactReal on March 9, 2011

USING CLASS ENVY TO DEFEND UNION GREED
The multi-millionaire and lefty propagandist Michael Moore has come out to defend Wisconsin public unions. He attacked other people’s money: “That’s not theirs, that’s a national resource, it’s ours.” But Moore is keeping his millions.

Leftists like Michael Moore want more confiscation of the wealth (i.e., higher taxes) of the so-called rich to keep financing the excessive salary and benefit packages of government workers.

Video by NakedEmperorNews:

MICHAEL MOORE to Laura Flanders of GRITtv:
“We are not broke…What has happened is that we’ve allowed the vast majority of that cash to be concentrated in the hands of just a few people, and they’re not circulating that cash. If you don’t believe me, go try to get a loan right now.

They’re sitting on the money, they’re using it for their own — they’re putting it someplace else with no interest in helping you with your life, with that money. We’ve allowed them to take that. That’s not theirs, that’s a national resource, that’s ours. We all have this — we all benefit from this or we all suffer as a result of not having it.”

“I think we need to go back to taxing these people at the proper rates. They need to — we need to see these jobs as something we own…that we collectively own as Americans and you can’t just steal our jobs and take them someplace else.”

Confiscating the wealth will be self-defeating:
Even the most jaded of true-believers on the Left knows that confiscating the wealth and taxing what they consider to be unjust income would be self-defeating.  What could be done one time can never be repeated and there would be no one to create jobs…

What would the United States gain if in fact the government did confiscate the wealth of the so-called rich and taxed at 100% all the income above $200,000.00 per household per year?
 
Using the latest statistics from the IRS, in 2004 there were 2.7 million adults with a net worth above $1.5 million.  If the government were to seize all the wealth above the $1.5 million threshold, Washington would realize a one-time windfall of $4.0 Trillion — and no one would again attempt to accumulate wealth.  Assuming it was applied to the national debt (unlikely with the Left in charge as they would spend it) the national debt would only be reduced from $14.5 Trillion to $10.0 Trillion.
 
Assuming Michael Moore & Company decide that $200,000.00 per year is sufficient for any household, then in 2008 (the latest IRS statistics) the 6.9 million filers that had adjusted gross income above $200,000.00 would have forfeited all their income above that ceiling to the government.  The one-time gain to Washington D.C.: $221.0 Billion; but in the future no one would work long enough to earn more than $200,000.00 per year.  Tax revenues in subsequent years would never increase unless tax rates are raised which are self-defeating and historically results in even lower tax receipts.
 
The long-term impact on the economy and the country would mirror that of the failed socialist nations throughout history.

Thus class warfare rhetoric is just that, rhetoric. It is meant for the consumption of those gullible enough to support the ascendancy of the Socialist/Marxists into positions of power…

For many on the Left the real fear is that for the first times in their lives they would have to find a job in the private sector they so vilify.

Therefore the real interest of these radicals is not the so-called denial of the “right” to collective bargaining but that by eliminating compulsory union dues (which Wisconsin, Ohio and Indiana among others have or are doing) a major source of funding for their groups will be eliminated.

Yes, we are broke
Michael Moore uses non-union workers for his films
Michael Moore caught stealing others’ work

2 Responses to “MICHAEL MOORE IS WRONG – Confiscation of Wealthy Americans’ Money Will NOT Work”

  1. Why would anyone with an IQ over one discuss anything with Michael Moore . One does not discuss finances or have any intellectual discourse with a moron .

  2. […] ● IRS: Taxing ALL Rich People Not Enough to Pay U.S. Deficit ● Confiscation of Wealthy Americans’ Money Will NOT Work ● The Rich Pay More Taxes…and Higher Tax Rates ● 47% Pay no Federal Income tax (CNN report) […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s