For Billionaires, a Heaven on Earth Beckons

[marmar]

from Too Much: A Commentary on Excess and Inequality:


For Billionaires, a Heaven on Earth Beckons
August 12, 2012

The United States already sports an exceedingly rich people-friendly tax structure. But America’s rich have far more friendly tax models in mind. Like Singapore.

By Sam Pizzigati


Why do the mega rich in the United States feel so put upon? Their incomes are rising, after all, and the taxes they pay have never been lower since the 1920s.

In fact, even if lawmakers in Congress passed 100 percent of President Obama’s tax plan, America’s rich would still be paying taxes at less than half the top rate that America’s richest faced back in the 1950s.

America’s wealthiest, given this ever so friendly political lay of the land, ought to be kicking back and living care-free. But that’s not happening. This election cycle appears to have America’s super rich in a feverish frenzy. They’re pouring money into the 2012 elections at all-time record rates.

What’s behind this deluge of campaign cash? A few frenzied super-rich political donors have apparently gulped the Kool-Aid of America’s delusional right wing. President Obama, these crazed deep pockets almost seem to believe, has tumbrils waiting to cart them off to the guillotines once he wins a second term. ....................(more)

The complete piece is at: http://toomuchonline.org/for-billionaires-a-heaven-on-earth-beckons/