Rich vs. Poor

That seems to be where we are heading in this debate about taxes. The fight in Washington is the classic divide between what is believed to be poor versus rich. I was looking at a report from the Organization for Economic Co-operation and Development. They ranked the United States fourth in the world for economic

inequality. Top countries were Mexico, Turkey, then Portugal before us. Does this surprise you?

Should we more heavily tax those that make the most money, and redistribute that wealth to the poor? This fight has taken on a strong tone this week as Washington considers Econ. Stimulus 2. Does this deter Americans from opening businesses in this country? Does it create a welfare state? Is this the "New" New Deal?

All of these are fair questions, and I have trouble with the idea that someone making over 250K is rich. Yes, I live in Manhattan, but I think about someone that has a wife who stays home with their children. In Dallas, that would be challenging for instance, as it would here. I know that amount of money is high to most Americans, but things cost more in major cities. Don't discount higher property values for instance.

So, what we are saying is that you should work hard, and dedicate yourself to your job, and in reward you will be taxed by as much as 50%? And some would argue that many Americans "don't" pay taxes. (that argument rests on the refunds many Americans receive and those who do not file at all.)

Thoughts?

CC