Tax the Rich to Avoid Social Unrest?

Tax the Rich to Avoid Social Unrest?

Britain which has seen an influx of wealthy European Union migrants in recent months who are fleeing excessive taxation on the continent (France has proposed up to a 75% rate) have found a way to welcome their wealthy, fellow Europeans…tax the rich!

As part of the global push to tax the rich, Britain is now debating an “emergency” wealth tax. But the idea has hit fierce opposition from conservatives, who say the “politics of envy” hasn’t made the country rich.

Deputy Prime Minster Nick Clegg, leader of the Liberal-Democrat Party, has proposed a one-time tax on the wealth (rather than the incomes) of high-net-worth Britons. The details aren’t clear, but Clegg says the country is facing an economic war caused by a prolonged recession, and needs to tax the rich in order to avoid social unrest.

via ‘Emergency’ Tax on the Rich Roils Britain – U.S. Business News – CNBC.

A one time tax on wealth sounds remarkably like something else to me…at least a thief won’t tell you that he’s taking your hard earned assets for your own good.

I hope to be wealthy one day…maybe you do to…these politics of envy do nothing but depress the human spirit and discourage self reliance.

Bonus:  Here’s a great video of Will Smith going from supporting higher taxation to completely freaking out when he hears about France’s new proposal of a 75% tax rate.

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