The recent debates about whether we tax rich people at a higher rate than the rest of America are not new. In the last century, President Woodrow Wilson taxed millionaires at 78%. His efforts failed. At that time, there were 106 millionaires in the United States. His efforts did not increase funds to satisfy the national budget. In fact, the raising of taxes on the rich resulted in lower revenues. Immediately after Wilson imposed the higher tax, revenues went down, and we had fewer millionaires.
There will always be smart rich people who can evade taxes. They hire smart people to do just that. Whatever the government imposes, the rich will evade. It’s the American way of life. Today in the United States of America, there are over eleven- million millionaires. We create millionaires at a faster rate than any other country in the world. If China was a democratic republic with entrepreneurs, China would be on a faster pace in the millionaire – creating business, but China is a communist country. Entrepreneurs in China are rarer than Lamborghinis. In the United States, there are millionaires on every block in every upscale neighborhood in the country.
I aspire to be a millionaire, and so should you. If and when I get there, I will gladly pay more taxes. I figure that when that day comes, I will pay more attention to making more money than how much the government takes from me. Many millionaires have made their money by being frugal. Frugality is a virtue. Some rich people live this lifestyle, and some don’t. If we tax the eleven million millionaires at a higher rate, the frugal will rebel. They have connections to Congress. Their wealth creates influence. After all, who do you think all of those political contributions came from?
Most of the rich in this country have accumulated their wealth by inheritance. They never had to want for anything, work for anything, or worry about where the next dollar was going to come from. The rest of us worry about it every day. There is a disconnect in this nation. “The new order of the ages” is printed in Latin on the back of every dollar bill that passes from your wallet to buy the things that you need to get through the week. Our founding fathers wanted for every American to be prosperous, and that duty should carry over to our reality in today’s world.
Stay true to your dreams, and pursue the goals that your imagination can create. There is no bad side, and you may surprise yourself. Your pursuit of your goals may benefit you and your country.
Go for it.
If you believe that your dreams can propel you to success, re-post and re-tweet this message to infinity.