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If every rich person gave 50 percent of their wealth to charity, i would not say they should pay more taxes.
-George Soros
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If Every Rich Person Gave 50 Percent

George Soros
If every rich person gave 50 percent of their wealth to charity, i would not say they should pay more taxes.
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Charity Pay Wealth

More From George Soros

The left does understand how raising taxes reduces economic activity. how about their desire for increasing cigarette taxes, soda taxes? what are they trying to do? get you to buy less. they know. they know that higher taxes reduce activity. it's real simple: if you want more of an activity, lower taxes on it. if you want less of an activity, raise taxes. so if you want more jobs? it's very simple. you lower payroll taxes. if you don't want as many jobs, then you raise corporate taxes. it's that simple, folks.
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Economists often talk about the 80/20 principle, which is the idea that in any situation roughly 80 percent of the “work” will be done by 20 percent of the participants. in most societies, 20 percent of criminals commit 80 percent of crimes. twenty percent of motorists cause 80 percent of all accidents. twenty percent of beer drinkers drink 80 percent of all beer. when it comes to epidemics, though, this disproportionality becomes even more extreme: a tiny percentage of people do the majority of the work.
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I thought you liberals cared about people, but here you're perfectly content to get them addicted to tobacco and make them pay taxes through the nose and continue to pay taxes through the nose and raise their taxes. and then you try to make 'em think you care about 'em by running psas telling them how they shouldn't smoke and how they should quit. you're exactly right. if they really cared, they would ban the product, but they can't, because the revenue from tobacco taxes - i'm not kidding you - funds children's health care programs, and a number of other things as well.
Running Thinking People
The rich people are apparently leaving america. they're giving up their citizenship. these great lovers of america who made their money in this country-when you ask them to pay their fair share of taxes they run abroad. we have 19-year old kids who lost their lives in iraq and afghanistan defending this country. they went abroad. not to escape taxes. they're working class kids who died in wars and now billionaires want to run abroad to avoid paying their fair share of taxes. what patriotism! what love of country!
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This is a very important issue that the corporate media chooses not to talk about a whole lot, that we have an economic system which is rigged, which means that at the same time as the middle class of this country is disappearing, almost all of the new income and wealth in america is going to the top 1 percent. you have the top one-tenth of 1 percent owning almost as much wealth as the bottom 90 percent - 58 percent of all new income is going to the top 1 percent.
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Regarding the economy & taxation: america's most successful achievers do pay a higher share of the total tax burden. the top one percent income earners paid 18 percent of the total tax burden in 1981, and paid 25 percent in 1991. the bottom 50 percent of income earners paid only 8 percent of the total tax burden, and paid only 5 percent in 1991. history shows that tax cuts have always resulted in improved economic growth producing more tax revenue in the treasury.
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