In far too many cases, the mega wealthy are not wealthy because they are so ingenius. They are wealthy because they are paying below poverty wages to much of their staff, and the staff that gets above poverty raises are working long hours, taking work home, and if a person is paid a decent living wage, they are treated as if they are owned. Their vacation time does not belong to them because they are called every hour or two and emailed all day and projects sent home and even called in on vacation days. The Mega rich would not be mega rich if they paid themselves and everyone in line with their actual contributions to the company.
I believe that passive income should be taxed at a much LARGER rate. Most of the mega rich do very little of their own work or their own thinking, therefore, they should be taxed at a white collar passive income rate.
We don't need to raise taxes. We need to reduce government, reduce regulations, reduce vacation pay, reduce government pensions, and keep our government employees benefits in line with the rest of the world. My daughter pays over 500 per month for health insurance for her and her son and my husband pays over 500 per month for health insurance for he and I and one child still at home. That's nearly 1100 per month between the two of them and none of us feels as if we can afford the co-payments. I'm against any public employee paying a smaller premium for health insurance or getting smaller co-pays than the average hard working American does.
Can you even think of anything that is not taxed? We can't rent a car or stay in a hotel, fly or buy gas, buy a house or a car, buy clothes, and in many states we can't even buy food without being taxes. We are taxed on our utilities, taxed on the auto parts that we buy for our cars, taxed on gym equipment for our homes, taxed for every single piece of merchandise that we pay. Are we taxed on hospital bills? I don't even know.
We don't need MORE taxes. We need less EXPENSES.