Wow, this is a real Gish Gallop you have here, Sharkie.1. Many of the people you are including are on Social Security now or in the military, which means they certainly did pay taxes. Proportionally, rich people pay far less than working people.2. Nope, not true. The top 1% of the US own 42% of the nation’s wealth back in 2005, and it has been increasing. If you don’t want to believe ThinkProgress, try this report from Forbes: the 85 richest people in the world have as much wealth as the 3.5 BILLION poorest. (http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/) (http://thinkprogress.org/economy/2011/10/03/334156/top-five-wealthiest-one-percent/) 3. “80% of millionaires are first generation wealthy” comes from “the Millionaire next door.” It’s no longer true (if it ever was, which is debatable). Last year, a report released by US Trust revealed that while a third of baby boomers worth more than $3 million came from lower-middle-class homes (or claimed to), it’s 18% of Gen Xers and 6% of Millennials. Social mobility in the US is now comparable to a banana republic. It helps a LOT to have money in the family already — or connections. (http://blogs.reuters.com/great-debate/2013/10/16/are-there-still-millionaires-next-door/)4. Federal sales tax on everything except unprepared food and clothing under $100 would be a huge windfall for the wealthy and would particularly punish the poor. Why exempt clothing that richer people buy? Fair? Not so.
Wow, this is a real Gish Gallop you have here, Sharkie.1. Many of the people you are including are on Social Security now or in the military, which means they certainly did pay taxes. Proportionally, rich people pay far less than working people.2. Nope, not true. The top 1% of the US own 42% of the nation’s wealth back in 2005, and it has been increasing. If you don’t want to believe ThinkProgress, try this report from Forbes: the 85 richest people in the world have as much wealth as the 3.5 BILLION poorest. (http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/) (http://thinkprogress.org/economy/2011/10/03/334156/top-five-wealthiest-one-percent/) 3. “80% of millionaires are first generation wealthy” comes from “the Millionaire next door.” It’s no longer true (if it ever was, which is debatable). Last year, a report released by US Trust revealed that while a third of baby boomers worth more than $3 million came from lower-middle-class homes (or claimed to), it’s 18% of Gen Xers and 6% of Millennials. Social mobility in the US is now comparable to a banana republic. It helps a LOT to have money in the family already — or connections. (http://blogs.reuters.com/great-debate/2013/10/16/are-there-still-millionaires-next-door/)4. Federal sales tax on everything except unprepared food and clothing under $100 would be a huge windfall for the wealthy and would particularly punish the poor. Why exempt clothing that richer people buy? Fair? Not so.